All Forum Posts by: Hai Le

Thanks!

Hello everyone! I'm still new to REI and still learning a lot here on BP. Was wondering if there is any lender here or recommendations for lenders serving the Inland Empire with lots of experience in HUD homes? I'm also looking for a realtor/broker with HUD experience. I'm thinking to pull the trigger on a deal and would like to connect with the right professionals asap.

@Emre Görü Thank you! I've been keeping busy doing all that you and others have suggested. I've read about 8 audio books including UBG, The Real Estate Rehab Investing Bible, The Millionaire Real Estate Investor, and The Book on Managing Rental Properties. The latest one was Rich Dad Poor Dad and it's my favorite so far. For me, I'm looking to pull the trigger on a great deal using BRRRR strategy. Wish me luck.

Sorry for the lack of info. 1. ARV comps 170-180k 2. 800 sq ft 3. Renting out 4. Asking 140k 5. Rent is about $1200

Hi BP'!! Newbie here. I've been practicing with analyzing properties but don't have any experience in estimating repair costs. Please help me come up with an estimate to fully rehab this place. I know that this should be done via walk-through with a contractor but the purpose for now is to quickly analyze potential deals in front of the computer.  I know there's alot of experienced users here that can help. Thanks in advance!

I am very interested. Please email me at [email protected]

Thanks everyone for all the advice. I'm starting to see the trend of needing to think outside the box when it comes to finding the deals. @David Jarvi very interesting take on getting out of the "rat race." I briefly googled Mr. Money Mustache and his perspective on financial freedom seems to be interesting. I'll probably pick up his book. Aaron Mazzrillo thanks for the reassurance that the IE market is still alive. You got me motivated to start driving around and looking for potentials and make a list. Not now but on my next day off.

@Kelly Singleton thanks for your insight.

Newbie here practicing analyzing some properties in socal, particularly Inland Empire). I'm trying to implement the percent rules (2%, 70%, and 50%) but not even coming close with the property values. What percentages is everyone using as a baseline in the socal market? Or is everyone just looking elsewhere?

Looks like your formula is wrong. Let me plug in the numbers for you. 70%: (315k x 70%) - 40k = $180,500 75%: (315k x 75%) - 40k = $196,250 Now assuming purchase price was 236k: (236k + 40k) / 315k = 87.6% Hope this helps!