All Forum Posts by: Long Nguyen

@Dave Peterson Thanks for the encouragement.

Just one question for you Dave. What would you do differently on buying your first property with the tools you’ve learned over the 30 years?

@Bud Gaffney I would like to start small with a single family to get my feet wet then move over to a duplex, triplex, and 4plex. Any tips on this approach? 

@Jim Pellerin Great. Thanks for the advice. The property does not cash flow when including repair cost, vacancy, landscape cost and etc. 

Hi everyone,

I am new to real estate investing and need some advice from experienced property owners. Iv spent hours learning about real estate investing but I am still very hesitant to pull the trigger. I am 26 years old from Sacramento that makes a 75k salary. I currently have 70k in a high yield savings account and want to use that to buy my first single family rental property in the Sacramento/Elk Grove area. I plan to stay at my full time job to fund my real estate hobby.

Im looking to purchase a 270k-300k 3br/2bath single family home with 20% down that is well kept but outdates. I will put 5k-10k to modernize the property w my pops who is an unlicensed contractor and rent it out for $1800.

My question one to you is...

1. Is my plan feasible?

2. Is it worth buying my first property that does not cash flow but will learn a lot from the experience? Or stay on the sidelines until a come across a cash flowing deal?

Please give me some feedback and let me know what you guys think.

Thanks!

Long

Hi everyone,

I am new to real estate investing and need some advice from experienced property owners. Iv spent hours learning about real estate investing but I am still very hesitant to pull the trigger. I am 26 years old from Sacramento that makes a 75k salary. I currently have 70k in a high yield savings account and want to use that to buy my first single family rental property in the Sacramento/Elk Grove area. I plan to stay at my full time job to fund my real estate hobby.

Im looking to purchase a 270k-300k 3br/2bath single family home with 20% down that is well kept but outdates. I will put 5k-10k to modernize the property w my pops who is an unlicensed contractor and rent it out for $1800. 

My question one to you is...

1. Is my plan feasible?

2. Is it worth buying my first property that does not cash flow but will learn a lot from the experience? Or stay on the sidelines until a come across a cash flowing deal?

Please give me some feedback and let me know what you guys think.

Thanks!

Long

Hi, I am a new investor looking for my first deal around Sacramento, CA but do not have the confident to pull the trigger. Im looking to purchase a single family rental property and would love to some input on my analysis.

Purchase Price = $280000

ARV = $300000

Down Payment =  $60000

Interest Rate = 4%

Mortage Loan Payoff = 30 yrs

Monthly Rent (Income) = $1,800

Mortage Payment = $1,050

Property Tax = $221

Insurance = $83

Property Manager = N/A (Will Manage Property Myself)

HOA = N/A

Vacancy (10%) = $180

Repairs (5%) = $90

Cash Flow = $175

Cash On Cash Return = .29 %

Cap Rate = 5.25%

Im more interested in using my first deal as a learning process but do not want to get myself stuck in a bad deal. Is there anything else i should consider?

Thanks!!