All Forum Posts by: Jimmy Dang

from my understanding, the builders have little wiggle room to make a profit but it never hurts to negotiate. if you can't get the ROI you are looking for then walk away, you can always find another deal.

@Aqeelah M. I am also an out of state investor who purchases properties under 50K. you can try contacting Julie Graber at Kanza Bank. She helped me purchase 3 of my properties however it was at another bank she worked at. Please let me know if it works out for you!

@Philip Abbey it depends on what risk you would like to take. Paying off debt can save money in the long run but it also stunts the growth of your business

@Esteban Cardenas with today's technology there is so much you can get accomplished without physically being there. It's always good to see the area for yourself but I don't think it is necessary. I bought 3 properties without physically being there with boots on the ground. Finding people you can rely on is really the hard part

how is the crime rate in that area?

@Ryan Swan what would be considered a good COC return for the Phoenix market? I understand it doesn't compare to midwest cities however COC return, in my opinion, keeps the blood flow of real estate investing.

@Shannon M.P. Lewis congrats! The first house is always the biggest step.

I agree, find another lender. I have excellent credit, currently serving in the military with no debt and i got denied so many times for a loan. I told the lenders that I live in Japan and want to buy an investment property in Kansas where i grew up. They requested i send an application form, tax return, income statement, social security number, ect. they did a credit check on me and then said i was not able to get the loan because i live so far away...I told them from the beginning in lived in Japan and the lender still went ahead and did a credit check on me.

after many attempts, I finally found a good lender.

@Jesse Kreun im curious, say if property 1 is 400K and you paid down 100K, would it be possible to refinance the remaining 300K into a 30 fix rate mortgage in order to give you an increase in cash flow? 

Property 2 i think you should get into the nitty and gritty of what all happening and like everyone else says check out the property manager and see what's going on

Property 3 sounds like something you should sales since it held onto it for a few years and did not receive much income from it. possible looking into the 80/20 rule when dealing with this property as it was taking so much of your time and resources. 

best of luck!

this is inspiring! 5 year does not seem that far off