All Forum Posts by: Peter Bui

Looking for a popular book that dives into the details about finding deals or creating your own deals. Any suggestions? I’ve read these books on deal analysis and general real estate investing but now want to look into some techniques to finding good deals: Rich dad poor dad Millionaire Real estate investor Keller ABC’s to real estate investing by Scott Book on rental properties by Brandon Turner Long distance real estate investing by David Greene Thanks in advanced !! Peter

@Doug McVinua Sweet! that's good to hear. Been reading great things about Arizona's economy in terms of growth. I was asking because I wanted to purchase a property from a coworker and I wanted to see at what point in the real estate cycle we are at. Looks like it might be going towards a seller's market as rents are increasing? Would you still consider the market on the verge of buyer/seller market or completely a seller's market? 

Thanks in advanced 

Peter

What do you guys think about the Phoenix, Arizona market right now. Good time to buy? Been reading a little on economy and it looks like employment and population rate is growing. Do you think that will decline soon? Thought?

Thanks Lauren Prichard I’ll keep you updated on it !

Vinay H. Thanks for the confirmation! Do you know the best place I cans find a template ?

Hey all, 

Quick question. I found a good deal from my coworker and we have decided on a purchase price and he has agreed to help finance the deal through owner financing. My next step is to write up a purchase agreement so I can include the inspection contingency in it. Do you think I should get an agent to do this or a simple purchase agreement contract will do (I will have my attorney look at it). 

Anything else you recommend to add in contingency section? 

Thanks! 

Peter Bui 

Lauren Prichard yes that is what I mean by targeted. But maybe it wouldn’t hurt to just own one. Yes! Well i spoke to him today and he agreed to me paying off the rest of the house for him (16% down) and then I would pay him the rest of the “mortgage” (technically it’s already paid off but I will be paying him until I hi 300,000) and he is also willing to do a pretty low interest rate (not an investment property) Now what did you mean by financing? Would you recommend I obtain an actual conventional loan so that I can pull some money out to invest in more real estate ? Or continue paying my coworker and collecting cash flow. He’s willing to give me 4.3% for an investment property.. Thanks for the advice! Peter

Lauren Prichard thanks for the feedback! Of course the property has to be a good deal sorry forgot to mention that. Assumptions: -Property cash flows from moment bought -Will force appreciation through minor rehab Follow up question: I thought if we had a property fully paid off, that has a higher risk since I will be targeted more? Should I be concerned with that ? Thanks Peter

Tom S. Brent Coombs thanks so much that makes absolute sense. Thanks for the feedback. And Brent Coombs, sorry I forgot to mention that I will rehab it after it’s sold to me! And of course he hasn’t given me a number yet but the numbers have to work out cash flowing to begin with. Thanks! Peter

Hey all, so i have a weird situation for you guys: 

So my coworker owns a property out of state and wants to move to california. He has the property paid off approx. 83% (25/30) not exactly if you account for amortization. But he has 5 years left to pay off. I offered him that I can pay the rest of the 5 years off and then pay him monthly with interest until we reach his desired amount. 

Then I plan on selling it through contract with seller financing with a higher price to another buyer after rehabbing it and adding equity. 

Do you think that this is a good plan or is there a flaw in it? If so, do you recommend any other ways of selling this property? 

And what happens if the buyer can't pay off the house, would I have to foreclose on them? So i guess the question here is, is it risky to sell with seller financing? 

Thanks in advanced!

Peter