All Forum Posts by: Lien Vuong

Hosting a fun Cash Flow Game Night to take away some of the winter blues! 

If anyone's read Rich Dad Poor Dad they've heard of this game and now is the perfect time to play and try for yourselves! This will be an exciting and more interactive way of meeting up with people in the industry, network, and learn what deals people have going on in and around Boston. 

Event Timeline:

6:00 PM - 7:00 PM - Networking and Learning about the game

7:00 PM - 9:00 PM -  Cash Flow Game

9:15 PM - 10:00 PM - Networking and Social Hour

Event Location: Address: 126 Newbury St, 5th Floor, Boston, MA 02116

Contact Host: Lien Vuong 781-244-2669/[email protected] or Brendan Boyd 617-304-1606

**** Please RSVP as we need a head count for how many players will be playing to bring sufficient number of games****

Snacks and non alcoholic beverages will be served but you're welcome to BYOB!! Hope everyone can make it!

Parking is by meter and should be ample by night time on Newbury St.

This event is not officially hosted by Compass Real Estate Group, they're just allowing us to host it in their space. 

@Suzanne Emily Nguyen

@Robert Leonard

@Sal DiMercurio

@Dan Lam

Excellent! Thanks for letting me know! I will put something on the calendar next week and create an event for the end of January! 

Does anyone have extra Cash Flow games they can offer for the night? Sounds like there will be multiple games going at once. 

@Rita Dourado Awesome! What are do you live in, would Wakefield work for you?

@Redgy Saint-Germain Yes!! This will be so fun!

@Shayne Mahoney you got it!

There's several metrics to what an investor uses to analyze deals in certain area and what they deem to be  a 'good deal'. To list a few:

1: Looking at comparable in the area of what has SOLD - make sure it's sold because what it's for sale for is not a dictation of market absorption

2. Reading the local news about the town or region to figure out developments in the local area that would increase value and speed up appreciation of home - i.e rail ways, large developments, new high way exits, etc.

- Conversely, look at things in the area that indicate a declining market where the prop. could decrease in value

3. Researching market rents and what that area can dictate. If the current prop. has low rents, why?, house condition? ignorance of landlord? location? - answer is not always that the landlord didn't want to be mean to the tenants and increase rent. 

4. Research local cap rates and what are the expected returns of that area

5. Management cost and type of tenants, are tenants going to be C class with low income and needy or more A class and demanding of pristine units?

Those are a few of the metrics I use to analyze an area... Hope that clarified things. 

@Doug Orchard Sorry for some of my colleagues who have not supported you adequately.  In reality that is a small percentage of us that do not know how to foster a relationship with a client and begin guiding them in their home purchase. Sure, it would be nice if the client came with a pre-approval and have an attorney they've already been working with but that's not always in case. 

That's the differentiator of a diligent agent vs. one that's looking for a one shot deal. I find it rewarding to help my clients along the process and make recommendations of what is appropriate for them in the investing or home purchase journey.  

I think that the BP community would be able to recommend you some good investor friendly agents in the local area who can foster that relationship for you. 

Hi Chris! I definitely echo @Charlie MacPherson in the fact that there are many properties that would fit your $35k down payment budget. I think what's important is what areas are you looking for specially and what is your cash flow goal? 

You can buy a 2 families in Everett for example right now for ~$650, I know of one that has a bonus unit that you can live and 'house hack' and still have the other units be rented out and cash flow around $500/month while living for free. Metro Boston properties appreciate much more aggressively than secondary markets that are 15-20 miles outside of Boston. 

There are many government incentives to home purchases and given that you're in the trade there are some renovations that you can take upon yourself to force appreciation and build equity upon. 

While your income is strong and clearly you're good at saving it's important for you to have a conversation with lenders to see what you would actually qualify for because it's based on Debt to Income and credit not necessarily what you can 'afford' monthly. 

An agent helps to assist you in the search of the property, analyzing the deal, negotiating the right price for it, and gets to the finish line! 

If you're just starting to look at deal and trying to figure out your footage it will be a good idea to start interviewing agents to see which one is oriented towards the same market you like and know how to analyze the deals properly. 

What connections do they have in the RE market? How strong is their network for vendors such as attorneys and tradesmen for example? How man investors are they currently working with? 

@Dieggo Goncalves Thanks! Remind me where you live again..? I think it would be a nicer way for all us BP people to connect that's not a regular REIA meet up.

New year new meet up!