All Forum Posts by: Nam Nguyen

I'd like to know about this too.  Thanks for asking the question!

Another idea was to also go ahead and pay off the $42k (since I have some cash).  That way the unit could eventually become a positive cash flow property.  Man I've got a long way to go if I want to buy 1-2 rental properties per year.  

The rent started off at $800 when I left in 2012.  Since then it has gone as high as $950, and right now it is sitting at $900.  The 15year escrow pays for principle, interest, county taxes, and insurance.  I have $95k liquid cash stuffed in shoe boxes, and my credit score is in the 800's.

I definitely don't have the numbers Rudy Hernandez and Andrew Johnson have mentioned in previous posts, and now I'm thinking I'm actually either breaking even or losing money.  I recently had to replace the entire backside of the unit with almost $3000 worth of hardy siding because I was tired of paying $800-$1000 a year (on average) to replace wood rot.  I definitely see your point with your roof replacement example.

Also in my 5 years the unit has averaged being vacant 1 month per year.

Short term: I'm at 11years active duty, and hope to retire from the USAF so I can pursue becoming a sky diving instructor around the world.

Long term: I want to have enough rental properties to fund a charity.  

The moment I signed up for the forum is the moment I left my ego at the door.  I didn't have much to begin with, but hearing how I've screwed up is better than not knowing at all.  Is there a particular calculator I can use to re-evaluate this property?  It has rented fairly well, and I have no plans on ever selling it.  I am also ready to get more properties, but I don't think I can just pull the trigger again without help.  Thank you for responding, and please keep it coming.  

Oh and I definitely do not have any of the other percentages that were mentioned here included into my basic numbers. Never knew to include those but now I will. Thank you!

Thank you for the advice. If there are any more opinions please post. 

The loan on the property is a 15-year fixed with Wells Fargo. 

I really like the information in this thread.  Thank you @Nathan Brooks for being on a recent BP podcast and opening my eyes and ears to turnkey properties.  That sounds like the best way for a newbie lie myself to start.  

@Ali Boone is Houston really out of the question these days?  I'm sad because I'm from there, and I always wanted to invest there.  I do like your website and I'm hoping to get help from you very soon!

@Joshua Zapin Thanks for asking the question!  

As a really bad introvert your post is going to help me out a lot.  thank you for asking the question!

Hi @Arianne L.

going to send you a private message

@Effram Barrett: I am thinking about Houston.  My family lives in the Greenspoint and Bear Creek areas, and I'm hoping to learn enough to buy a few rentals someday.  Thank you for the advice!

@Anson Young

@Anson Young

@Anson Young and @Arianne L.

Just finished your podcasts and you two were great!