All Forum Posts by: Jimmy Lieu

Hi all! Do any of you invest in Fresno, CA? If so - would love to connect and learn from you! I'm interested in long-term rentals, both turn-key and value-add (from touchups to total gut jobs).

About me: I'm a SFH + MFH investor in San Diego, CA (7 doors), Colorado Spring, CA (10 doors), and recently Columbus, OH (2 doors). I'm primarily interested in finding new markets to do value-add investing and BRRRR. Happy to share about those markets!

Hi all,

I recently graduated college and wanted to purchase my own investment property. However I do not have enough to cover the 15% downpayment. I decided to purchase a single-family home and owner occupy it for 12 months before renting it out to put a lower downpayment down. I have been transparent with my lender about my plans as well and I will not have to refinance. I am wondering do I put the minimum 5% down or put all of my cash into it at 10% down. 

Furthermore I am expecting large stock grants from work every quarter over the next year. Should I put all of this into the property as well so I will have 20% equity before renting it out and get rid of PMI for more cashflow? (PMI $162.50/mo)

At 5% down the property will cashflow $219/mo after mortgage, taxes, insurance, PMI, property management fee, vacancy. ($24,000 downpayment + closing costs)

At 10% down the property will cashflow $319/mo after mortgage, taxes, insurance, PMI, property management fee, vacancy. ($36,000 downpayment + closing costs)

I’m a rookie investor investing long distance. I’m wondering if I’m being too conservative. When I underwrite a potential deal I include 10% for maintenance, 5% vacancy, and 10% for cap x. Is this to high? It seems like when I run numbers on a property my offer needs to be embarrassingly low. What are folks using for these numbers?

TIA

I am a new BiggerPockets member and have been impressed with the incredible value that you all provide :)

I am from DC/MD/VA (DMV) area and have an FL single family property that is paid off, has a cash flow of $1300/month, and is currently valued at $450k. Last year, my tenants broke their lease early, and after a huge sum to get back on the market and rented again, Hurricane Ian has put it out of commission for the last six months. I am currently doing upgrades as I plan to use 1031 exchange into a Multi-Family (2-4 Units). I have looked at the market in my area and the multi-units are very pricey! Ideally, I would like to get something that's reasonably priced, can still cash flow, and appreciate over the long term. Which cities or States would you recommend to look into where this down payment would go far?

Hi,

Canadian real estate investor here looking to start investing in Ohio- Cleveland, Dayton, Columbus, Cincinnati areas in consideration. 

Looking for advise and help with contacts that can help including a realtor, CPA to set up proper structure and lenders who work with Canadians.

Any help or tips would be greatly appreciated! 

Hey Jaime, these are all great realtors here in Columbus! If you need a contractor let me we would love to meet up. We are a licensed, bonded, and insured General Contractor here in Columbus, oh and mainly work with out of state investors

Hi everyone! I'm leaving my teaching career the end of the school year. I've decided that I want to invest my money that I'll receive from the STRS into real estate. Originally I was looking at rolling it over into a traditional IRA but I believe that money would be better in RE vs. Stock market. Can you tell me what type of IRA I can do this with? There are a lot of tax rules. I don't want to pay thousands in taxes if I take it out cash it would be 30% approximately. Help Please and thank you in advance. Also if they take it out, can I get a lot of it back? I just started a LLC and have an EIN.

Hi everyone! My name is Eric and I am looking to get started in real estate investing. My ultimate goal is to own enough doors to replace my 9-5 income and become work optional. I have a long and exciting road ahead to get there! 

As a rookie, I am curious about the BP community’s thoughts on investing in your local market or finding value in long distance options. For context, I am in New Jersey, so there are limited options for ‘entry level’ local investing outside of the southern portion of the state. I know I can find better deals in other markets, but I am a little concerned about building a strong team and not being an expert on the market for my first deal. What are you thoughts on this for a first time investor? I would appreciate your insights! 

Hi BiggerPockets Gang,

By way of introduction - my name is Adrian and a new BiggerPockets fans. Learning a lot from this community. I started out from a humble beginning as an Immigrant from Indonesia and currently living and working a W2 job based on the Southern California market. I consider myself as a beginner when it comes to real investing. Currently with 3 rental properties (2 in Houston and 1 in LA) and currently working on a flip that are going wrong in every direction. Good learning experience though! 

I am investing in real estate with a goal of financial freedom and ability to support my family. With my family getting older and the intent to have more flexibility my life today's life to spend time with them, the idea of investing in a more cashflow friendly market definitely is something I am considering (understanding that appreciation factor will be limited). I am looking for advice from this community as to potential market that I can tap to and recommendations on great agent on this market where cashflow can be realized. Looking to get in with 100k to this market and hopefully expand. 

Just here looking to network with agent in these markets, fellow investors, and if I am lucky finding mentor in those markets to grow together and be accountable in this journey together.

Thank you so much for reading this post y'all and looking forward to hearing from you all and networking.

Adrian

Hi everyone! I'm looking to get my first out of state LTR investment property in one of these markets:

-Cincinnati, OH

-Allentown, PA

-Scranton, PA

-Montgomery, AL

-South Bend, IN

Would love to hear some insight/tips/advice from anyone who has investment properties or experience in either one of those markets!