All Forum Posts by: Long Dinh
Long Dinh has started 4 posts and replied 14 times.
Post: [Calc Review] Help me analyze this deal
- Posts 14
- Votes 5
Yes this is a single family. I agree the picture does look weird. There's no front windows on one side.
Thanks for letting me know about repairs and capex. I didn't know what to use.
I'm currently using a property management company charging 100 flat fee on all SFR.
I used zillow for the taxes. I do round up for this.
I already bought the property and the rented it out for 1550. I'm just waiting for 6 months to get a cash out refi to do it again. I'm hoping the ARV is around 200-220.
Thanks so much for the reply. I really appreciated it.
Post: [Calc Review] Help me analyze this deal
- Posts 14
- Votes 5
*This link comes directly from our calculators, based on information input by the member who posted.
Post: First investment/rental property
- Posts 14
- Votes 5
Well, there's two ways to invest. Cash-flow or appreciation
This doesn't seem to cash-flow well. You're probably right at the 1% (cost to rent ratio)
Do you know if the area will appreciate and trending upwards? If it is, then it might be worth looking at. If it's not then I would look at lowering purchase price.
Post: First BRRRR deal in houston, TX
- Posts 14
- Votes 5
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $80,000
Cash invested: $40,000
My first BRRR deal.
I broke even and cash out refi for 120k.
4.8% for 30 years at $636 for principle and interest
I consider that a success.
Property is currently rented out for 1350/month.
What made you interested in investing in this type of deal?
I heard brandon turner talked about college fund for his child.
I just had a little one and wanted to save for her future.
How did you find this deal and how did you negotiate it?
It was my mother-in-law's house.
She wanted to move to a smaller place so I told her I'll buy the property.
How did you finance this deal?
Owner financing 1000/month for 7 years.
How did you add value to the deal?
I spend 40,000 on repairing the property.
All tile flooring
Paint exterior and interior
Remodel both bathrooms
Leveling subfloor
Changing out to pex piping
What was the outcome?
Rented out to tenant for 1300/month
4.8% for 30 years at $636 for principle and interest
I'll be cashflowing after I pay off the owner financing in 7 years.
Lessons learned? Challenges?
Don't buy a property unless it has a slab.
Older houses have extensive repairs.