Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Huy N.

Huy N. has started 94 posts and replied 468 times.

Post: My 1st Rental Deal

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189
Originally posted by @Matt R.:
Congrats Huy! Looks like a super solid property and deal you made.
I would probably take the million in 401k:) direct some of that to rentals and senior healthcare reits with triple net strategies.

Are you syndicating sfh?

Thanks,

Matt

I would need some enlightenment on triple net stragtegies @Matt R. . i have no idea what is it!

Yes, i like sfh in Houston. it's my strength.

Post: My 1st Rental Deal

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189
Originally posted by @Account Closed:
@Huy Nguyen, I would take those numbers any day of the week! Nice work.
I had bought a short sale in the Phoenix area in 2010 for 80k, also when the market was very low. It looked just like this one you bought, nothing wrong with it, just needed some appliances and some yard work. I ended up selling it 8 months later for 130k. I debated holding it as a rental, but at those numbers you can't go wrong either way. Your rental just reminded me of that deal.

Anyways, congrats, and good luck to you finding more!

congrat @Account Closed look like you made a killing with your deal here!

Post: My 1st Rental Deal

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189
Originally posted by @Sam B.:
@Huy N. Congrats. Would love to hear more about your syndication deals, especially your first one, how you put it together, etc.

Sure @Sam B. . I'm lucky to have a very supportive family who understand the value of real estate and support me when i need help. I do syndication with my family members but looking to branch out to the 2nd and 3rd circles soon. I will post my 1st syndication deal soon. it was a good one as well.

Post: My 1st Rental Deal

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189
Originally posted by @Sharad M.:
You found a really great deal for yourself.

Are you still getting $1,200 or have you increased the rent with the market? Has it been rented to the same tenant who first moved in?

From reading on BP forums, it sounds like Houston, TX market is very competitive. What is your investment strategy in this market? Are you doing anything creative or making a lot of offers of properties that come on market?

Yes, i am lucky so far. It has been rented to the same tenants who 1st moved in. I believed i screened them well. Houston Tx is an ultra hot market right now as we have lots of cash buyers/investors. it makes life very tough

I'm making offer solely base on the cash flow per month. Appreciation is a bonus. i am willing to pay more for house that is in good area to get good tenants quality.

Post: My 1st Rental Deal

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

Thanks @Richard F. ,

Since this one. I have done 2 more syndication deal for myself and around 6 more for my family. I will have it organize and share with everyone soon.

Post: My 1st Rental Deal

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

HI @Sharad M.

@Sharad M.

now, every house that i want to buy there is like 10 people ahead of me and i have to bid up so high....

Post: My 1st Rental Deal

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

Hi fellow Investors,

I want to share my 1st rental deal with everyone. I'm by no mean want to brag about myself but i want to encourage new members, especially young members to take action as early as you can. Would you rather have a million in 401k or a million worth of investment housing that can create you passive income?

This is back in the day when the market is trying to recover and i have the luxury of pick and choose foreclosure with minimal competition.

This is in Houston Texas and i bought it for 74,200$ 20% down. Clean foreclosure house that can even pass appraisal and inspection for a 30 year mortgage. i painted some wall and they was able to rent it out for 1200$ to a nice family. my PITI was less than 600$ a month with a 4.99% 30 years mortgage.

The house now appreciate to more than 100,000$ after 3 years.

I believe that the earlier to start investing, the better. Write down all your excuse for not investing on a paper and burn it!

If a broke college student like me could do it, any one can.

Thank you!

Huy

Post: what are your odds of being audited

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

I found this funny article just wanna to share with everyone

http://www.forbes.com/sites/anthonynitti/2013/03/25/what-are-your-odds-of-being-audited-by-the-irs/

Thanks

Huy

Post: Using alternate sources of Funding for deals

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

Hi Ryan,

have you had a chance to check out Lightstream? I heard good thing about them but never tried.

Thanks

Huy

Post: What's the worst advice you've ever received?

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

put your money into the CD