All Forum Posts by: Huy N.

I think anyone that is real estate would agree with me that nothing is passive in real estate - it's just a lot of work does not matter what niche you are in but the reward is there. I think the only trule passive income right now in 2024 is either 1. interest income from bank at the moment since they are paying 5%. dividend income from good stock, or good syndication deal that you are able to buy into, 

I think people are leaning toward fire only - no windstorm right now if you can since it is getting crazizy expensive. They do penalize you for claiming the roof now. and either increase the rate or kick you out. of the program. - Speaking from experience after several successful roof claims... Good luck!

I did house hack for me, mom and dad on both side so everyone get a house for free in Houston. Interest rate and insurance cost in Houston will make house hack harder now but it is not entirely impossible. for particular Indepdent Height, arces homes, and highland height is a great area that is growing in my opinion. 77021 near medical center has some really nice street

Look for home that has garage apartment, duplex or big land to put up additional structure later on. look for area with low tax rate and no HOA. plenty of them around

If you have the long term rental data and the short term rental data. you will have a very good guest of the MTR pricing. Also site like furnished finder will have active comps you can look at and comps out. or use airbnb search with 30 days+ or more to see the active comps. it will be close or less than the active comps abit

these are all great answer above. I would add in the ability to add an ADU later in the property to boost the income

i been using hospitable (use to be smartbnb back then). whistle and bell for all most everything 

order termite treatment for the whole house asap? that is what i would do

i show the seller how i come up with the offer price by going back from my ARV, minus holding cost - minus repair - minus the profit i am willing to take on the deal. The offer also come with very high earnest money and no option period. I don't mind sharing with the seller how much I will be or my client will make on the home either. Seller then 1 declined which we moved on, 2. take it or 3. negoiate until we find a happy number. Disclosure everything. no secret about what we do

Good luck!

my favorite is always HELOC for primary residence. Interest rate as of March 2024 is around 8% for refinance and it's challenging to find something that return at least 10% cash on cash right now. with the line of credit like HELOC you only pay when you draw.

good luck!

Investment Info:

Office Space commercial investment investment.

Purchase price: $140,000
Cash invested: $24,000

My 1st commercial property. I know everyone is running away from office space but i was able to get this building for cheaper than a home that need no repair. I took the risk and bought it. The seller is offering refinance so i took it

The goal is to lease it out for 90 cents a square feet and cashflow it and refinance.

Let see how it will go

Youtube link of me walkthrough the building
https://youtu.be/BfIK2WV1jh8?si=fTyHkFLzKw7w-BIs

What made you interested in investing in this type of deal?

Cheap and need no major repair

How did you find this deal and how did you negotiate it?

crexi.com just reach out and talk with the listing agent

How did you finance this deal?

the seller does not need the one whole payment so we agree to seller finance. my note is 1k.

How did you add value to the deal?

I will probably paint the outside, make it look a bit more modern and lease it out. right now it is 70% vacant

What was the outcome?

hopefully 90 cents per sqft for the entire building and incase the value to 300k

Lessons learned? Challenges?

It is a small town so volume is slow

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I have my license so i negoiate my own deal