All Forum Posts by: Jason Nguyen

Adding to your point, people can also purchase a single-family home or a townhouse and rent out the bedrooms and basement to tenants as long as they live in one of the bedroom. This will work also consider not all areas have multifamily homes for sale.

Just tell them how much you are willing to go for, if they don’t wanna move forward. Move on!

I put 20% down on my last property. Regarding the cash flow, especially in the Northern Virginia market, I target medium term rental and it cash flow very well compare to long term. 

Why not both? If the property has high appreciation rate and long-term rental cash flow doesn’t look good then try medium-term and short-term rental. I’m sure one of those will make it cash flow. At the end of the day, the cash flow will keep the property afloat but appreciation is what’s gonna build your equity. That’s what’s gonna make you rich. 

I'm a long-term real estate holder so rates don't matter much to me. It goes up, I'll buy. It goes down I'll refinance. Most long term rental numbers don't cash flow well during this market so I target medium term and short term.

I have two portfolios. Cash flow portfolio to offset my living expenses which it's has already did. Appreciation portfolio to make me richer and richer every day. Being a real estate agent/consultant to help people accomplish the same result while spending all the time enjoying life with family. Isn't that the end goal for most people? 

Looking forward to connect with you also!

House hacking is best in northern Virginia area. Fairfax, Annandale, Arlington , Alexandria, etc. those are not too far from DC. Home prices are cheaper and not too competitive. Virginia is also a landlord friendly state. With $45k and this is your first home, I will use FHA loan with 3.5% down and target a $500k - $600k townhouse with 4 bed and 3.5 bath. You basically live in the masterbed room and rent the rest out to tenants and let them pay for your mortgage.

Purchase price : $600,000

Down: 3.5% or $21,000 with closing cost 

This should be more than enough for your current budget. Live there for a few years and refinance or sell the property to leverage the equity that you have built to buy more properties.

Out of state investing is ultimately a good idea, however, you will need a really good team to manage your investments, and this is the hardest part in my opinion. You need to be very careful picking your team members. 

I highly against using HELOC as downpayment for now due to interest rate is up north at the moment. Unless you have a plan to pay it off in a few months otherwise this approach will eat up all the cash flow and buying a property without positive cash flow is purely gambling.