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All Forum Posts by: Duy Nguyen

Duy Nguyen has started 8 posts and replied 43 times.

Originally posted by @Joseph Brasile:

I will be moving to Houston mid October harris county I'm also looking to find a buy and hold. What area in Houston are you looking into?

 I am in SW Houston. Hit me up on BP, we will meet up and share some information. Looking forward to meeting you

Post: At what point you say No to the deal? 10+ yrs house vacant

Duy NguyenPosted
  • Houston, TX
  • Posts 45
  • Votes 28
Originally posted by @Jim Goebel:

@Duy Nguyen

We did a house that sat for close to that, but it was right on the edge of what was even possible (feasible), and had numerous structure issues.

Many times you can do it if you take it nearly down to the studs, and prepare yourself for some structural projects.  However, if you're not an engineer, you may pay through the nose to get through some of these issues.  Depending on your jurisdiction, too - you may have to do substantial updates to structure to get it up to current building codes (for instance floor/ceiling joists etc)

From what you've described of your experience, I'd think this is too much for you.

Thanks for your input. I do agree this is too much for me. I am going to look into partnering with someone who has experienced and also learn from them if I got this deal. 

Post: Pre- Foreclosure, How to approach a homeowner

Duy NguyenPosted
  • Houston, TX
  • Posts 45
  • Votes 28
Originally posted by @Ibrahim Hughes:

Letters = 2-5% response rate

Door knock = 100% response rate (providing they're home). May not be the response you're looking for but at least you know right away.

When you go door knocking, do  you always seal the deal on the first negotiation? Do you bring a contract with you in case they agree to sale? 

Post: At what point you say No to the deal? 10+ yrs house vacant

Duy NguyenPosted
  • Houston, TX
  • Posts 45
  • Votes 28

BP Community, 

First real estate related question here. I had found an abandon property that may have been vacant for roughly 10+ years or even more according to the neighbor. The outside looks terrible and I am pretty sure the inside will be about the same condition or worse. I am in the process of locating the owner and talk to him about selling the house. Here are my questions:

1. I use land glide to locate the property owner information, and all I find is the owner's mailing address at this house (owner occupied but the owner is not living in there). I am in Houston and i use hcad to get this information. Where else can I find this owner contact info?

2. My purpose is to hold and rent, at what point do you think this property is too much to fix? Hence you have to do a rebuild instead of remodeling. I had listened to podcasts and I think in one of them, they were saying about the structure of the house was damaged to the point that they have to replace the structure. Having a property being vacant for this long, I can only imagine that everything has to be fixed and I am not sure if the cost of fixing it is as much as the cost of building an entire house. 

3. Hard money lending: For a newbie just getting started, do you need to present a deal to the lender before they can lend you money? If you have a recommendation, please feel free to drop their names here. 

Thanks all for your inputs. Getting started here and hopefully I can close a deal in 90 days. 

Originally posted by @Meir Greenblatt:

I see that makes sense. 

I would have partnered with you but I'm moving to Tacoma in 7 months,  so I'm not sure if it will be a good idea for me to buy a place now, but instead I rented a $900 apartment and will Airbnb it, trying to create some passive income.

Thats awesome. Good look on your relocation! Thanks for all the tips 

@Meir Greenblatt that would be ideal but some experienced investor doesn't have time to mentor unless you bring something to the table which totally makes sense. Thats why I am asking for a newbie to partner with.

@Alvaro Rodriguez hi, I'm always looking and wanting to network. Lets schedule sometime to meet up and share our goals together.

@Mitchell Benson I would love to if you don't mind. The reason I am asking for newbie investor is because I havent done any deal, asking to partner with someone who has done deals may portrait me as wanting to learn for "free".I'm trying to educate myself and hopefully at some point I can find a partner where I can contribute my part to the relationship!

Hello BP, 

I am looking for 1 or 2 individuals that has the same level of interest and motivation in real estate investing. My goal is to buy my first rental property within 90 days. I want to look for someone that has never done any deal and share the same goal with me. We are going to share our knowledge, help each other and be each other's accountability partner to push one another. 

I joined BP 3 years ago. I have been listening to podcasts, audible books and learned a ton but the main thing is that I never take action. I have wasted 3 years and this is the time that I need to step up and do something. So if you are in Houston and have the same mindset, lets connect and help each other grow. 

Is this event still going on? Do you have a table reserve under anyone's name?