All Forum Posts by: Hoang Bui

@Tyler Weaver Obviously, the goal is to be cash flow positive here. I am still green, so was thinking of buying 25 MF, spread different across areas where population growth and median income are preferable for REI. Also, haven't really looked into commercial real estate, so came up with the 25 MF at this point.

@Joe Villeneuve Understood. Definitely wanted to purchase cash flow positive properties. The goal is to generate enough passive in come to replace my current income. 

@Michael O. Makes sense. I think the number 25 is obviously arbitrary. Think it will take some time to achieve the critical mass needed to scale. But the point on Reserve is noted. Think it's important to set aside a specific amount to cushion myself against any adverse events. 

So I have been bitten by the real estate bug lately, and I am looking to purchase my first real estate investment by the end of the year. I am also planning to buy at least 25 properties the year after, and about 25 properties the year after that. So it comes down to about 2 properties a month. So my question is how much effort would it take? I know it depends and varies from person to person, but if you have had success with REI, I would very much appreciate your story.

The other thing that concerns me is that I have a rather demanding job (65-70 hours a week) in a HCOL area, so I am thinking of doing out-of-state investing as well. I will start with my investment in the area where I am from, which is about 4 hours away. While the area is a bit far, I know the area well, and wanted to start there to leverage my knowledge of the area. I have already worked with an agent to find some properties there. 

Would it be far fetched? Of course, there's a will, there's a way. But I just wanted to have a good idea of the commitment it would take to do it. Many thanks! 

I guess when factoring in property management cost, it doesn't seem like the cash flow is that much. What's a reasonable cash flow these days? What's the median? What's good cash on cash returns when you think that would be a good deal? 

@Account Closed  $31 for lawn/snow would be for year round. I don't think the property has a lot of grass, and most of the expenses would be for snow removal. And why do you think that closing cost is high - in my understanding is about 3-5% of the purchasing price. So think my cost is actually on the low end. 

Can anyone help me with this? Feel like I am underestimating the costs. There won't be property management cost as this will be my first property. Very much appreciate your help!

Hi guys,

I am currently a young professional in NYC that recently got bitten by the REI bug. I am just wondering if there are any other young professionals out there who are also interested in getting in. In my understanding, the barrier to entry in the NYC market is so high and the market itself is mostly an appreciation play, making young people like me who just started out without much experience and capital almost unable to participate. Having said that, has anyone done out of state investing, and what's the experience like for you? Especially when you first started out? Would be great if anyone here can grab a coffee sometime. Looking forward.

Best,

Hoang