All Forum Posts by: Cuong Le

Hi @Mike Peel and welcome to BP! Listen to podcast 63 with J Scott who talks about spec build. It's a bit more involved building from the ground up but you should get a better feel after listening to this podcast.

We would start out rehabbing a few SFs and renting them out before looking at other options. See you around!

Hi @Zach Holmes and welcome to BP! We were in your shoes a few years ago and I wished I found BP then. We're all here to help each other. Besides making money, do you have your "why" written down? Do this and get your pre-approval if you plan to finance. This would be a great start but after some time, take action to get you to your goal.

Hi @Dusty Warner and welcome to BP! Remember that the 2% and all the other rules are just guidelines. Getting $2000/mo for rent for $100k house in Texas is not likely but it is possible to get 2% on some deals.

We bought a house for $54,200 and it rents for $1175 after rehab which makes it about 2.17% but we like to use the 1% rule where your rent / purchase + rehab is over 1%. I forgot which podcast I got this from but have used this since.

Meeting your 15 houses by retirement is very doable and by you being on here making connections, you're on your way.

Thanks for setting this up but will be on a retreat starting that night. Hope to make the next one!

Hi @Denise Mayo-Walley and welcome to BP! What fun you will have on this journey of real estate investing. A suggestion is to figure how you're going to finance the property...personal cash, cash from friends/family or financing. If you're going to finance, go ahead and get pre-approved before looking at any houses. This will help you look at houses that you can move forward with and help you determine how much money out of pocket you will need.

You're heading in the write direction by being on here, reading as much as you can and making the connections. See you around!

Hi @Kathy Mohr and welcome to Texas (again) as well as BP! There is no other place like Texas. Having J Scott's flipping book will be a great resource as you work on crossing the flipping house item off your bucket list.

When you get the chance, add a profile picture to help better establish connections. Let us know how we can help.

Hi @Taylor Bacot and welcome to BP! Glad to see another Houstonian on here. Let us know how we can help you.

@Mick Misra Let me know how the two I provided to you works out. I'm always looking for a good GC. It seems like as soon as a good one pops up, he gets too busy. I'm always looking for contractors to improve my call list.

Dang it! I have another commitment so I won't be able to make it. Thanks for doing this. I'll try to set up the May meeting. Have fun!

Hi @Jarrod Young and welcome to BP! Lots of accidental investors on BP and glad you decided to get more of the fun. Check out the podcasts which showcases members who did very well while working a full time job. It can be done! Best of luck and see you on the site.