All Forum Posts by: Ezra Nugroho

@Jamal Atwell Congratz, you are doing much better than people your age!

I do invest out of state, and what I can offer to you is an advise for you not to do it, at least not right now. If you spend your 20k as down payment, you'd have nothing at all as reserves. Plus, it's never just the down payment you'd need to bring at closing. The closing cost can be 25% to 50% above your DP.

Don't do any hard money with a buy and hold, it's just not the right tool for the job.

Listen to the caring advise from @Jay Hinrichs and @Chris Clothier as they are both very successful and very experienced.

What you should probably do is to just buy an index fund and park your money there for a few years until you have more capital.

Next move: FNMA no longer restrict a person to have only 4 conventional loans. Then we can probably time the next bubble burst.

I just inquire with the existing PM that final inspection and security deposit return is a 30 day process with them! Boy...

Do you think it's better to wait until the dust settles down, or to bite the bullet and try to get the ball rolling with the PM replacement? I hate waiting, but I hate the risk that they are screwing around with this transition period too.

Hi BPers,

Generally it is well accepted maxim in BP that any buy and hold investors should have a reasonable amount of reserve for our properties just in case something goes wrong. 

With that in mind, wouldn't buying rental with no/little money down be too risky as well? BP has now published a book on this. I haven't gotten it yet, so I cannot tell if the book covers the risk mitigation for this strategy. I can understand how a flip may work well between a sweat partner and a money partner. But for a buy and hold? 

Interesting observation! Is Sparks the new Detroit? Although I guess Tesla is building a battery factory, and not a car assembly factory.

You'd guess that it should grow up with the factory! 

Any local real estate agents from Reno or Sparks noticing increasing buying activities even now?

@Mehran K. thanks for the replies. I guess the consensus is to deal with it sooner than later, huh? I'd have to involve the new PM because I am out of state, and I'd rather not fly over there if I don't have to. The problem is that the performance of the current PM is below par, including in communication. I really doubt that the transition will go very smoothly, but I guess I'd just have to deal with it sooner than later.

may I do a self bump? I'd love to hear about your experience in switching property managers.

@J. Martin has a sister :)

Congratz again, I am happy for your achievements.

What's the property value? The insurance should not only cover the liabilities but also the damages that may happen to the property, at least up to the property value.

@J. Martin Congratz and thanks for the post!