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All Forum Posts by: Jimmy Dang

Jimmy Dang has started 5 posts and replied 119 times.

Post: New to Wichita and Investing

Jimmy DangPosted
  • Las Vegas, NV
  • Posts 133
  • Votes 53

welcome TJ! real estate investing can be very exciting!

Post: Trial by fire in Olathe, Kansas

Jimmy DangPosted
  • Las Vegas, NV
  • Posts 133
  • Votes 53

if you call taking risk and finding solutions to your problem crazy, then yes you are crazy! Welcome to BP! I hope this website brings you some sanity. Good luck and congrats on becoming a REI.

Post: Newb living in Des Moines, IA

Jimmy DangPosted
  • Las Vegas, NV
  • Posts 133
  • Votes 53

@Daniel Dittmeyer,

as i was reading this i was thinking your big "WHY" is because you wanted to use real estates to fund your new hobby playing laser tag ahah. I had a chance to go to the escape room in Wichita and it was pretty fun. Welcome to real estate! are you looking to invest in Des Moines?

Post: Side Hustling to Get Down Payment Cash

Jimmy DangPosted
  • Las Vegas, NV
  • Posts 133
  • Votes 53
Originally posted by @Chris Mason:

Hi @Dylan Tettemer, look forward to the next military investing mastermind e-meetup. :)

The only side hustle that regularly crosses my desk on a frequent basis that seems to consistently be working is Realtors that flip using Fannie financing as the side hustle. They host enough appraisals to know when something is juuuuuuuust good enough for a Fannie loan (or within $5k of being good enough, and they are willing to risk $5k fixing a home they do not yet own), and do well in that space because they aren't paying 4 points upfront for hard money, allowing them to offer more for the home than the HML-using folks. They love the 85% LTV SFR investment property mortgage, and delayed financing.

For things that do work, but that I do not see consistently, it's always things where someone has some niche thing they are truly personally passionate about or really good at, and figure out how to monetize it. So it comes down to what that is for you. Maybe that's boutique bee honey, maybe that's comic books, maybe that's gun brokering. I've seen it all. The common pattern isn't the specific side hustle, it's the passion and personal knowledge. 

what is this mastermind e-meetup and how do i sign up?

Originally posted by @Michael Ndjondo makadi:

I am just getting started in my RE investment journey and after long thoughts I have finally decided to invest in Wichita, KS even if I live in San Diego. I have lived there for a couple of years and that market can offer some very nice CoC ROI and I have people there whom I can trust on helping me screening potential houses.

I have just finished reading this wonderful book "Tax strategies for the savvy RE investor" which I would highly recommend for any RE investors. From this book, I took that business trips such as travelling to go check on your houses are tax deductible. So in my case that I don't have an investment yet and I would use that trip to go check on the property myself before closing, and also meet my realtor, perspective property management and some contractors. Could this trip be qualified as a business one and be tax deductible?

Hey man, i am in the same boat as you. I am investing in Wichita while stationed in Japan. The ROI you can find here is awesome. good luck!

Post: Experience with USREEB?

Jimmy DangPosted
  • Las Vegas, NV
  • Posts 133
  • Votes 53
Originally posted by @Miles Thomas:

these people are ****ing crooks that have a hi turn over rate in contractors due to their consistency in fraudulent practices and refusal to finish paying hard working honest contractors....... the office manager is a meth smoking felon who's been to prison for usreebpm before for illegal activities and in my estimation headed back to prison and taking Tyler and a few others. YES PLEASE DO BUSINESS WITH THIS COMPANY

 Do you have some evidence to this claim? 

@

Kelly Ellis,

I am not a flipper and still consider myself a newbie so take this a with a grain of salt.

Have you considered house hacking? Purchasing a 4 Plex and live in one? I think If you find a way to lower your expenses you will essentially have more money to do flips. You can possibly make some money on the 4 Plex by renting it out. Yea it's nice to have a brand new house but that house isn't bringing you income. Use that money you earned from the flip while you are ahead. I'm not sure how the market is in Florida but I am assuming it is expensive because it is Florida. 

The earlier you start investing the sooner you can make money.

Post: New to BP (Wichita BP)

Jimmy DangPosted
  • Las Vegas, NV
  • Posts 133
  • Votes 53

@charles craig, welcome to bp! Keep learning and stay motivated.

@Jared Viernes this was some good info on that website you posted. Thank you very much!

@Lisa Rogers,

 if you don't mind me asking, how long have you worked with Megan?

Post: My rental property to LLC HELP

Jimmy DangPosted
  • Las Vegas, NV
  • Posts 133
  • Votes 53

@Ernest Rogers good to see another service member doing REI! please keep me informed and ill let me know what is the outcome of my situation.