All Forum Posts by: David Huynh

What is your end goal? 
How much do you want for fee?

Why wouldn't you just fix it and have it listed with an agent?

@Steve Dye I do not know yet. Closing soon. It took a little longer than expected, the seller wasn't in a rush and is taking his time. I think I'll keep it at the current rents and bump them as time goes on. I've learned a couple things, it's not always about crazy cash flow. It'll be a winner property but the additional cash is not worth the additional headache to me anymore.  I will bump rents and add value then sell it off down the road, but am in no rush. The market is wayy too hot and there's nothing to trade it up for and it IS a desirable neighborhood. 

How are things in Eau Claire? 

@Amy Ranae Congrats on being in a position to choose which route to take :) That's a good place to be. 

Personally, I would not pay off the student loans. At the pace you seem to be moving and how you've responded, it seems like you are aggressive and seeking for another rental property (even though it's super hard to find right now) but it'll pop up. You know that the 6.8% is a fixed rate, and you write off student loan interest anyway. 18k can go a far way given the proper placement and property. Good luck out there!

@Jaden Ghylin I'm going to be following you on this one. I had peeked at it myself and wondered how I'd approach it, add value, etc.. Excited to hear how this one turns out. 

Hey BP,

There is a 4plex that I am assisting someone with to purchase as an owner-occupied property. It is a non-converted 4 plex and the county has it labeled as an apartment. Has anyone ran into this situation? How can we change this title status?

David H. 

@Brian Turnbough With a conventional loan on a multifamily it is 15% down here in Minnesota. The best way for "least money" out of pocket would be the FHA loan. It constantly changing.

@Eric Bate IMHO: You'll want to do an FHA loan here, it'll benefit you more. Even with the additional cash on hand you'll still be able to get a better COC return. I've debated 20% down route vs 3.5%. With the other 16.5% down, 32k or so, you could earn enough to pay for the PMI and still be liquid, if/when needed. I'm a fan of multifamily, although their more difficult to find.

Everyone has posted great ideas and insights on how to acquire or which path to take (Multifamily vs SFH). Which ever you choose, do not ignore and analyze the deals out there. For example, don't pass up a single family deal if you have chosen the multifamily route. I've seen many people sit there for years trying to find the "one" and time/money/opportunity has passed.

Define your end goal and find a deal that tailors to that. I'm a B&H investor, that doesn't mean I don't look at and have done flips in the past. 

@Joe Splitrock I don't want to deal with the issue but at the same time I don't want to let it slide, since I have other tenants with animals. 

I got to the point on the phone where I told her it was not healthy if we continued the discussion and wait another day and continue to discuss it. She was frustrated and so was I. Once this and other tenant leases expire, I can go ahead and use my own, which are more clear.

The compliance will probably be something I can stand on. 

It's the poor attitude she has, I'm OK with finding a new tenant. She is complaining now that she lives in a crap apartment and a dangerous area. This property is in the nicest school district of all of the state of Wisconsin, in one of the better neighborhoods. It would be preferable if we were on OK terms before she left but it's unacceptable to me for people to make their own decisions after a discussion.