All Forum Posts by: Denny Pham

Hi all,

I would be interested in a meet-up to share, connect and add value with like-minded individuals.

So I learned that landlording is an experience, holding for long term may be beneficial, self directed IRA's, 1031 may not work if i'm a resident there and 1031 an investment to a primary residence can save me being taxed (correct me if i'm wrong BryanA), and having a better exit plan when i'm scaling up my investment especially if i live there due to that vacancy of my unit.

--Things that I never thought of, read or expected (maybe not the LL thing)
--Thank you for the knowledge!

Denny P.

everybody here seems to be geared towards helping, thank you Danny for the welcome and to answer your question:

yes, larger residential apartment complex, well hopefully.
commercial seems like big risk big reward from reading some posts.
what are you thoughts Danny?

22 years of age
$15,000 in student loans
no other debts
$50,000 salary, secure job
$4,000 in savings

here's what i'm thinking:
residential duplex/triplex/quad--i will also be living in one of them in order to save money for cushioning while being a landlord.
increasing the value of the home through a discount price, inflation. demand and forced appreciation.
within a few years:
1031 tax exchange to pyramid up.

I understand that my plans are broad and the blueprint is yet to me entailed through this post but

my question is, is this a smart first real estate investment? is there other strategies or different routes that you would take if you were in my position?

your input may change my life and thank you,
denny p.