All Forum Posts by: Jonathan Oh

@Tim Corbit For lenders, I always shop around. I would get the pre-approval first so you can 1. see what you can qualify for and 2. makes your offer more serious to buyer. If this is your first purchase, I'd highly recommend getting an agent to represent you. And no, its not the listing agent, but usually your agent that will write up the offer and help with the negotiations. Hope this helps!

@Nick Scullin I specifically target SFH in suburbs. That's where you typically get longer tenants rather and less transient tenants. It's also safer in general and appreciation is usually better.

@Evan D. I think you could start by picking up some turnkeys. But if you plan on settling down in Ohio within the next 12 months, I'd also keep that in mind and make sure you have some cash set aside for a house hack there as well. House hacking is awesome and depending on what type of property you househack, you can basically live for free. Hope this helps!

@Muhammad Ahmad I just finished reading The Book On Estimating Rehab Costs by J Scott and I think its a great book. Even if you're not planning on doing any rehabs, it's a great knowledge to have. If you want to get in REI, you'll eventually have to fix something. It's a good idea to know how much things actually costs. Items that you would think is cheap, might not be and vice versa.

@Elijah Householder
In general, the more units you have, the less your payments will be. But this is obviously assuming all units are rented out. Just make sure you do you DD on what rents and what doesn't. Another option you might want to consider are ADUs. It's pretty rare, but once in awhile you'll find a SFH with a adu built out in the garage.

@Renuka Lokare Austin is a tough market to find cashflow especially for SFR. But a lot of potential for appreciation. It's slowly becoming a hub for the tech scene.

@Cameron Todd I think you should reach out to some PMs in that specific market. It seems a little risky for a first time investor. It's a a small town anchored by 1 main employer. It might be good if you think the plant isn't going to go anywhere. But in the event they do, you got a huge problem. Not trying to discourage you, but just making sure you understand. Hope this helps!

Doesn't seem like this agent is on the same page as you. Either you need to talk with your agent or find a new one. Agent works for you, not the other way around.

@Jesus Fregoso Know the market before you invest. And it's not ALL about cashflow. Cashflow is the lifeblood of your investment. But don't make the mistake of buying the highest cash-flowing property you can find. These tend to have a trade-off with appreciation because they're typically in less desirable areas. Also, emphasize on building a great team. Without one, you'll have a much tougher time succeeding. Hope this helps!

@Ash Kakish

Only way is to buy it as your primary house and rent it out on the low. But the question is - why even take the risk especially on a 115k property? Is saving that extra % going to really change this deal? If so, I'd pass.