All Forum Posts by: Long Khang

@Keith Anderson

I also from boston

@Minh le

I  used to think to buy out of state and turn key property. But after I had a chance to talk with @Minh Le, I learned so much from him.

I  buy a properties at a discount 20 to 30%, then get my money back next year and cash flow with 20 to 30% equity.

I buy a properties that had room for me to create or add value.

I buy property that had problems,  so I can solve problems to make more money.

I buy properties that old, low rent, and too much expenses, had room for me to renovate, raise rent, and lower expensive.

I buy property where not many land to build house, low cap rate, high appreciation.

I buy properties,less units, less tenants, less big items maintenance and replace, and still make more money than a lot of units.

I buy good deal only.

one again thank you so much Minh Le..

@nancy molinari Dorchester some neighborhood are rough not all. 

simple,  how many wealthy doing flip compare buy and hold? 

Do you work for money or money work for you? 

I am still a newbie. 

Long Khang 

we live under $1500 monthly,  no mortgage,  no car payment,  no credit card debt. 

I am a newbie,  you will get better deal quicker with money down than NMD deal,  if you have money and you wait for NMD deal or you take the deal with money down? 

Longkhang 

@Nadjim K,  welcome to BP

Hello everyone, I invest in Dorchester,  triplex, double,  it seller market now,  bidding war,  over asking price,  hard to find a deal. Triplex now from 500k-800k.

Longkhang

@Tommy Oan, @Brian Gibbons,

@Bob E., @Chase Thompson

Thank you for the input,  but , how do i start, where (local), whom should i contact to buy notes??

Thanks

Long Khang

@Fred T. @Mark Robertson @Steve Vaughan @James Wise

one of my deal is similar with 5% vacancy, I do neighbor scout to see the vacancy rate with 9%, but he said it high.

I mean it's really hard for newbie like me first time to buy multi apartment building to analyze how do you know it's the real data.

here is one of the deal.

OPERATE INCOME RENTAL UNIT INCOME $363,504

Vacancy 5% $18,175
GROSS OPERATING INCOME $345,329

OPERATING EXPENSES

Advertising $272

Trash Removal $1,320

Management 8% $29,080.32

Supply $16,611
Landscaping/Snow Removal $1,866
Replace/Repairs/Supplies/Maintenance $30,825.14

Water/Sewer $19,214

Utility House Gas/Electric $10,924

Real Estate Taxes $54,100

Insurance $10,061


TOTAL EXPENSES $174,273

NET OPERATING INCOME $171,055

LOAN WITH 20% DOWN $360,000

DEBT SERVICE ($97,524.99)

DSCR $1.75

CASH FLOW $73,531

CASH ON CASH RETURN 20%

Long Khang

one of my deal is similar with 5% vacancy, I do neighbor scout to see the vacancy rate with 9%, but he said it high.

I mean it's really hard for newbie like me first time to buy multi apartment building to analyze how do you know it's the real data.

here is one of the deal.

OPERATE INCOME RENTAL UNIT INCOME $363,504

Vacancy 5% $18,175
GROSS OPERATING INCOME $345,329

OPERATING EXPENSES

Advertising $272

Trash Removal $1,320

Management 8% $29,080.32

Supply $16,611
Landscaping/Snow Removal $1,866
Replace/Repairs/Supplies/Maintenance $30,825.14

Water/Sewer $19,214

Utility House Gas/Electric $10,924

Real Estate Taxes $54,100

Insurance $10,061


TOTAL EXPENSES $174,273

NET OPERATING INCOME $171,055

LOAN WITH 20% DOWN $360,000

DEBT SERVICE ($97,524.99)

DSCR $1.75

CASH FLOW $73,531

CASH ON CASH RETURN 20%

Long Khang

What do you think about this deal???

what is this properties value 1.5M???

The properties is class C and neighborhood class B

Total building square footage: 48,513 sq ft, built in 1947

Listing Price $1,800,582.5 0.095

OPERATE INCOME RENTAL UNIT INCOME $363,504

 Vacancy 5% $18,175
GROSS OPERATING INCOME $345,329 

OPERATING EXPENSES

Advertisin $272

Trash Removal $1,320

Management 8% $29,080.32

Supply $16,611
Landscaping/Snow Removal $1,866
Replace/Repairs/Supplies/Maintenance  $30,825.14

0.0848 Water/Sewer $19,214

Utility House Gas/Electric $10,924

Real Estate Taxes $54,100

Insurance $10,061


TOTAL EXPENSES $174,273

NET OPERATING INCOME $171,055

LOAN WITH 20% DOWN $360,000

DEBT SERVICE  ($97,524.99)

DSCR $1.75

CASH FLOW $73,531

CASH ON CASH RETURN 20%

I add 5% for Capital expenditure

and vacancy rate to 10%, now the Price about 1.5M

VALUE $1,494,473.9 0.095
OPERATE INCOME 

RENTAL UNIT INCOME $363,504

Vacancy 10% $29,080 

GROSS OPERATING INCOME$334,424

OPERATING EXPENSES

Advertising $272

Trash Removal $1,320

Management 8% $29,080.32

Supply $16,611
Landscaping/Snow Removal $1,866

Repairs/Supplies/Maintenance  $30,825.14

Water/Sewer $19,214

Utility House Gas/Electric $10,924

Real Estate Taxes $54,100

Insurance $10,061

Reserves/Replacement 5% $18,175

TOTAL EXPENSES $192,449

NET OPERATING INCOME $141,975

LOAN WITH 20% DOWN $300,000

DEBT SERVICE (1) ($81,270.82)

DSCR $1.75 CASH FLOW $60,705

CASH ON CASH RETURN 20%

Thanks

Long Khang