All Forum Posts by: Ken Lim

I invested $100k with Open Door Capital run by Brandon Turner in the summer of 2023 in the Texas Three Pack. The first year return was $0 because apparently with real estate syndications it takes a year to settle things out before they get any dividends out? Then in May of 2024 got my first distributions I got $290. So basically I got 2.9% return.

Ok thank you Chris and Mike for this feedback, yes I've been blessed to have my current properties in good area, that also appreciate fairly well. Yes I agree better areas even though more expensive is better. I'm spoiled with good long term tennants. 

Hi I'm Ken Lim. I'm 50 years old, just sold a business. I really don't want to go back to work. I have 2 duplexes already that cash flow well. But I want to get to $10K a month net cash flow so don't have to go to my W2 Job. I stumbled into my first 2 duplexes I was lucky, now I have to go out on the market and find new stuff I'm a little bit anxious doing this. I looking for support from the BP community to help me along the way. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $142,000
Cash invested: $30

This was a Duplex I was living in bought it and the one next door. I was house hacking before I even knew what it was. Did alot of upgrades on the property probably more than needed but it's ok, it's the 1st baby property.

What made you interested in investing in this type of deal?

I was a renter in the unit figured I'd just buy it.

How did you find this deal and how did you negotiate it?

I found the deal from a friend who was a roofer and was working on the place. I met this friend at an evening community college exercise class.

How did you finance this deal?

I did 3-5% down FHA on 30 year fixed traditional loan.

How did you add value to the deal?

I did alot of upgrades to both inside and outside of property,

What was the outcome?

Outcome has been amazing. I been living in the one unit for 6 years, I also bought the duplex right next to it. So the three rents been paying for the mortage of both, I pitch in like maybe $300 a month to break even on mortgage, and that is after all the expenses, I have property management company. I got lucky with low 2017 interest rates, and in 2020 I dropped a point on each with refinance.

Lessons learned? Challenges?

I learned I got very lucky finding this off market deal, on the duplexes I was living in. Also I learned Real Estate is the key. And I overspent on upgrades but hey, never waste to spend on real estate.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes I kept the original property management company, used Prime Lending local lender in town.

Hi Matt

Yes can you give me your texting number?  I won't have time today or tomorrow to contact you, but I still want to connect later. 

Thank you,

Ken Lim

Hi Matt,

I'll text you I hope that is ok?

Thanks,

Ken Lim

Hi Matt,

Can we talk 3:30 pm your time Tuesday 28th?

Thanks,

Ken

Hi Matthew,

Thank you for reaching out. Did you want to talk on Sat Nov 25? 

If so confirm with me I'm in PST, so I can talk early in the morning my time. 

Let me know.

Thanks,

Ken Lim

Hello Everyone,

 I'm looking to House Hack a 4 plex in the Houston Metro area.

I've submitted a request on the BP Find a RE Agent, and I'm posting on here now.

Thank you,

Ken Lim

Hi Everyone, I ended up passing on this deal. It wasn't cashflowing. Then something else has popped up.