All Forum Posts by: Kevin Linh

Thanks for all the input guys looks like this property is a no go for me. I redid the numbers and I guess I must have punched in the wrong number somewhere. Thanks for all the help and now it's time to look for a new place to check out.

Hello BP, I found a Duplex in Temple City (25 mins from LA), CA I'm curious if I analyzed the deal correctly. I'm going to try and see if the owner will do seller finance.

Front house, 3Br/1 & 1/2 Ba

Back house, 1BR/1BA

1,843 sq ft.

5,663 sq ft. lot

Sale $650,000

8% interest = $52,000

Total = $702,000/30= 23400/12= $1950 a month

$1950+650(tax)+180(insurance)+200(repair funds)+150(5% vacancy)= $3130

Rental comps for 3Br/2Ba $2200-$2500

1Br/1Ba $1200-$1600

With conservative rent income $2200+1200=$3400

Cash flow $3400-3130=$270 a month

Let me know what you guys think and tell me if I did anything wrong or if I need to increase or decrease any of my numbers.

Thanks again guys for the help.

Kevin

Hello BP, I found a Duplex in Temple City, CA I'm curious if I analyzed the deal correctly. I'm going to try and see if the owner will do seller finance. 

Front house, 3Br/1 & 1/2 Ba

Back house, 1BR/1BA

1,843 sq ft. 

5,663 sq ft. lot

Sale $650,000

8% interest = $52,000

Total = $702,000/30= 23400/12= $1950 a month

$1950+650(tax)+180(insurance)+$200(repair funds)= $2980

Rental comps for 3Br/2Ba $2200-$2500

1Br/1Ba $1200-$1600

With conservative rent income $2200+1200=$3400

Cash flow $3400-2980=$420 a month

Let me know what you guys think and tell me if I did anything wrong or if I need to increase or decrease any of my numbers. 

Thanks again guys for the help. 

Kevin

I found out that they offer 1 free trail class which I will go and take (it's free and I can ask more detailed information while I'm there). Thanks for all the advice everyone.  I will go to the free class with a little caution and make sure I have all my questions written out so that I don't forget to ask them. Will report how it goes next week. 

Thanks again for the help. 

Kevin

Hello everyone, 

I just found out my cousin who is taking classes at a RE company called Century 21. The contract states that if classes are taken with Century 21 (around $400 for classes and another $185ish for exam) that they will hire me and let me work for them for 1 year (if I pass the exam). I was wondering if anyone  has ever heard of something like this? If you have how was it and what RE company was it for? 

To me this sounds a little to good to be true, because after you sell your first property Century 21 will reimburse the $400ish dollars for the classes. My cousin sent me a picture of the contract, it looked simple so I became a bit skeptical. I know that Century 21 is a big RE company out here in Southern California but I'm not sure if it's country wide.

Any information will be great since I really want to get my RE license and start RE career. I've waited to long and I need to start taking some action.  If this is true signing with them would be a good idea, since they guarantee that I will be able to work with them for at least 1 year. 

Thanks again 

Kevin

Hello everyone on Bigger Pockets,

Finally created my profile on BP after lurking around for about a month. Been listening to the podcast for about 3 months now and finally pulled the trigger to create the profile. I am brand new to the real estate investing and my knowledge of it is only the basic. I've got lots to learn and I've found the place that will help me learn and grow. As a 28 year old I feel it is time to start investing for my future.

I'd like to get into flipping houses and use that income to flip more house (of course) and then hopefully be able to acquire properties to rent out and earn a living off of rental income. That is the goal I've set for myself and hopefully with BP's vast amount of information and helpful members will help me get achieve this goal of mine. 

From one of your new members, 

Kevin