All Forum Posts by: Long Khang

Ryan/Jeff/Paul, 

Thank you I will look into it,  I am a  newbie but I'm so into RE,  don't know where to start.  I am new to forum and try to read as much as I can. 

Thanks

Long Khang 

I am an RE investor from boston,  Massachusetts. I want to invest in Des Moines Iowa,  and need advice from local investors. I am looking for, RE attorney, property management,  contractors. Any preference would help. 

Thanks

LongLong Khang

Sean Troy, 

Some tenants live there from three to five years, they all from month to month. 

Thanks

Long Khang

Marc, 

Yes

Thanks

Long Khang

What if interest rates rising next year and properties value going down from 550k to 450k, I can't get 100k cash out. But you are right cash out only when I get another deal

I bought one duplex in Boston in 2010 for 387,500 with 25% down , 4.75% for 15   years   fix  rate.

I collect 2,600 monthly,  I have negative cash flow. Two years later I cash out refinance 10k ,15y at  3% rate, now mortgage  270,000, rent for 3,300 monthly with positive cash flow. In 2014 paid 30,000 to principle with 240,000 mortgage. Should I cash out 100,000 with 30 y 4.65% fix rate and have the same cash flow? 

Long khang

Property repair 87k in 2012,  30k in 2013, 60k repair in 2014, this property seems high maintenance. 

I don't know much about des Moines Iowa,  I did some research but not much,  my wife family live there. 

Jedd, 

I live in Boston,  and own few property with 30 years fix rate,  and I manage them all.  It too expensive here now not much cash flow. I did ask klcpropertymanagement.com properties management is 10%.

The number from realtor,  but I change vacany rate from 5% to 8%, and management from 6.7% to 8%.  Repair  from 25,800 to 30,800.

Thanks 

Longkhang