All Forum Posts by: Hung Tran

Why’s he being replaced??

 Hey brother, no not yet if I'm being honest. My mind has been hyper focused on reading through my backlog of all the BP books in their publication. That and day-to-day work.

Have you come across any good groups or networking events by chance? Good to know you're local and an agent.

-H

 That is true. Thank you.

Hey Matthew, thank you much for the reply. I am from the NYC area and am a little unfamiliar with Buffalo. Are there any particular areas you would recommend I start looking into as far as Buffalo goes? You mentioned doubles. I'd be interested in looking into that if the numbers work. Possibility on triples or quads?

Ah! Pm'ed you!

Greetings all, Hung from NYC here and new to REI.

This idea just came to mind out of nowhere and wanted to get a pro’s take on it. Here’s what I’m wondering. I personally can’t house hack myself due to my wife’s job. But my sister lives 5-9 hrs away in Buffalo, NY. and I’m wondering if there’s a way to help my sister get a place to stay that’ll help her get into RE and help me learn and make some change at the same time??

Is there any way possible I could pay for her 3.5% down payment and have her house hack at that property and then collect the (what would hopefully be) a net profit after the PITI (principal, taxes, insurance and interest) are paid off??

I do recognize the FHA loan would have to be in her name because she ultimately is the one living there. That would mean that the equity built is in her name as well no? Would the only benefit in doing this be whatever profit there may be, I take, but she keeps the equity on the property?

 Hm, that's interesting. I wonder why that is. Could I just "lend" her the money? How would any  lender know? Thx for the reply.

I would think that the mortgage is being paid by the tenants; and I would take profit assuming that the other tenants can cover the mortgage and there is anything left over. That's what I would be taking.

I suppose she can stay as long as she likes as it would be living for free? But she also has the option to leave a year later do maybe do her own house hack? And then the unit that she's in would be rented out as well.

I would say the agreement would be that she couldn't sell it. I mean I'm not helping her with a DP on a house-hack so she can sell it in less than a year. Defeats the whole point I guess.

Thx for responding!

Greetings all, Hung from NYC here and new to REI.

This idea just came to mind out of nowhere and wanted to get a pro’s take on it. Here’s what I’m wondering. I personally can’t house hack myself due to my wife’s job. But my sister lives 5-9 hrs away in Buffalo, NY. and I’m wondering if there’s a way to help my sister get a place to stay that’ll help her get into RE and help me learn and make some change at the same time??

Is there any way possible I could pay for her 3.5% down payment and have her house hack at that property and then collect the (what would hopefully be) a net profit after the PITI (principal, taxes, insurance and interest) are paid off??

I do recognize the FHA loan would have to be in her name because she ultimately is the one living there. That would mean that the equity built is in her name as well no? Would the only benefit in doing this be whatever profit there may be, I take, but she keeps the equity on the property?

Greetings all, newbie investor here and what everyone's thoughts were on an organization like REIA NYC? They have membership requirements ranging from $200 upwards to over $1k.


I'm looking to get out there (eventually after all this COVID mess) and network, meet, and learn from with other investors and am looking to see what the best ways are?

What groups or organizations do you guys recommend joining? What meet ups are the best in your opinion?