All Forum Posts by: Dmitri L.

DP, congrats on the first deal! Would be interested to hear the numbers if you don't mind sharing

Dmitri

Ryan - shoot first ask questions later. Good strategy! 

Curious because you keep mentioning "no good deals because no equity" - do you mean because the bank's max bid will be determined by the amount of money they are trying to recover? Which would be inversely proportional to the amount of equity that the original buyer had?

Congrats on a great deal

If you go to the press I would suggest local news outlets, as well as tech publications. A good one is arstechnica.com who do alot of technology and investigative type journalism and have discussed airbnb in the past.

Once you get it on to some news site, submit a link to slashdot.org for yet more traffic (with disclaimer that you're involved).

Best of luck! 

@J Scott

That's a great summary, thanks!

Another thing worth considering is - if you have only one or two properties, some people might be tempted to "roll the dice" and not set funds aside for the low-frequency high-cost repairs. Obviously a bad idea, but statistically some people will get away with it, then come on the forums and say exactly what you mention, perpetuating the cycle.

However as you start acquiring more properties, which I'm assuming is most people's goal on here - to have a substantial amount of passive income - the more individual properties you have, the more chance of at least one big ticket item each year. So over time your "expense" curve will get alot smoother and stay around that 50% number overall.

With one house you might be at 40%, 40%, 40%, 125%, 40% each year...

WIth 20 houses, you'd be more likely around 49%, 51%, 48%, 52%....

One last point - that bad year above at 125%, you're effectively out 16 months of gross rents. Assuming that same hypothetical house with 1000/mo gross with 200/mo cash flow, that "bad year" just wiped out 4 years' worth of assumed "profits". I say "assumed" due to the fact that this money should have been in a reserve fund instead :)

-D

Sam,

That's awesome! Congrats on the big first step and best of luck! Let us know how it goes?

Dmitri

Welcome!

I'm investing from far away but looking at the DFW market. Maybe see you at one of the REIA meetings later this year

-Dmitri

Welcome, @Jarrod Young !!

It's great to have a big goal, I really the sound of that - 7 Years to 7 Figures! Nothing quite like it to get you excited and keep you motivated.

(I'm also a new investor looking at DFW area, and my own goal is 100 doors in 5 years)

Best of luck!

-D

@Engelo Rumora - that sounds like it could be a good match. Do you know if the work in Texas, and can you please PM me the details? Thanks!

@Andrew O. - you're totally right, USCIS can be tough. It is possible to live abroad for short periods of time, but there are quite a few requirements to fill and it's never 100% guaranteed. The key is to demonstrate an intent to return to the US, and that you have not abandoned US residency (esp, filing taxes, and returning at a minimum every 6 months).

Hi,

I would like to ask some help of the collective wisdom of BP.. Hopefully someone has seen a similar scenario previously.

I am a Green Card (Legal Permanent Resident / LPR) holder in the US, but currently living and working abroad (temporarily - will return to the US in a few years). I have been told that this makes conventional financing a challenge due to not being able to pass the Fannie Mae DU automatic underwriting.

I wanted to ask if anyone had experience with:

1) Any Green Card holder living/working abroad obtaining conventional financing in the US?

2) Any lenders that are willing to do manual underwriting (non-DU)? Especially in the state of Texas.

This would help tremendously if someone can point me in the right direction with a few leads. Thanks very much in advance!

Best Regards,

-Dmitri