All Forum Posts by: Peter Bui

Matt R. Thank you so much. That helps out so much. I hope great things happen to you sir haha. Let me know if you need anything I can do, it’ll be my pleasure! So next question, this might be pretty simple but I’m still pretty new to real estate. Let’s say we suspect that a house is vacant, how will we go about contacting the owner? Power of google? And a phone number ? Thanks!

Yeah the house is actually around 560000 But again, this is just if I am running my numbers correct. Just want to account for everything, if that deal did exist with a low ROI like that, would you personally purchase or is that sill too low of an ROI? Or as long as you cash flow, you’ll be happy

I don’t know why it turned out like that: 4 bdr house with 2 bath, remodeled kitchen, no major damages or repairs in Fullerton Sqft: 1377, 6018 lot Purchase price: 460,000 Closing cost: 13800 Down payment: 92,000 20% down Monthly mortgage: 1864.60 Rent income: 3000 Property taxes: 421.67/month Insurance: 100/month Vacancy: 100/month Capex: 150/month Total expenses: 805 Financing: 1864 Income: 3000 Cash flow:~330 ROI:3.74 So this is just me practicing for a property in Fullerton. I am not more concerned with the profit (low ROI here) but more concerned with if I accounted for everything, or did I underestimate something? Just want to know from you guys now so I don’t do it in an actual deal. I found a similar house with 4 bed on Craigslist that was renting for 3200 so I put 3000 to be safe. Do I need to account for repairs if everything has just been remodeled, or can I let the capex handle that?

4 bdr house with 2 bath, remodeled kitchen, no major damages or repairs in Fullerton Sqft: 1377, 6018 lot Purchase price: 460,000 Closing cost: 13800 Down payment: 92,000 20% down Monthly mortgage: 1864.60 Rent income: 3000 Property taxes: 421.67/month Insurance: 100/month Vacancy: 100/month Capex: 150/month Total expenses: 805 Financing: 1864 Income: 3000 Cash flow:~330 ROI:3.74 So this is just me practicing for a property in Fullerton. I am not more concerned with the profit (low ROI here) but more concerned with if I accounted for everything, or did I underestimate something? Just want to know from you guys now so I don’t do it in an actual deal. I found a similar house with 4 bed on Craigslist that was renting for 3200 so I put 3000 to be safe. Do I need to account for repairs if everything has just been remodeled, or can I let the capex handle that?

Thanks a lot guys ! I will look into Long Beach and Huntington. I would love to partner with you Whitney, and Lindsey if you’re open to it! I also have thought about house hacking but I live at home right now and I can save ~1000+ for doing so so I’m going to stick to that to save money for investing. I am also working full time so I have definitely have enough funds which is why I decided to invest in a OC but it seems like it’s pretty tough right now

Hi Lindsey! Thanks for the reply! Well I guess I’m not really looking to score off of one from driving, just to get a feel for my neighborhood. I’m just looking for single family or small multi units( which is pretty rare) to start off with. Have you had any luck in the area you are investing in?

So what exactly is a “vacant home?” Is it exactly what it sounds like? How will I know that it is a vacant home, will it have a sign for sale in front of it? Or will I have to do some extra research ? I ask because I want to get into real estate with less competition in the OC area and plan to just start our by driving for dollars Thanks in advanced !

So what exactly is a “vacant home?” Is it exactly what it sounds like? How will I know that it is a vacant home, will it have a sign for sale in front of it? Or will I have to do some extra research ? I ask because I want to get into real estate with less competition in the OC area and plan to just start our by driving for dollars Thanks in advanced !

Thanks for getting back to me! Dang I was guesstimating tax to be around .8% I guess that was too low, how did you get 1.1%? Is that riverside specific or California I general ? As for rent I was looking at around 520 a room but that seems too high. What would make more sense probably around 350 a room. Let’s say for practice sake, I was able to rent it out for 2100, with the stated tax and everything. Would you personally pursue that with a ~9% ROI and ~400 cash flow? Thanks man!

Hi, 

Just posting on here to get some feedback on deals. I am aiming to rent out this property for cashflow + paying off mortgage. The property is located in Riverside and I will be offering 272,000 for a 4 bed (1 is a separate building in the back) and 2 beds. 

Feel free to be as critical as possible, won't hurt my feelings, as the more critical you are the more I can learn. 

Thanks!

Purchase Price: 272,000

SQFT: 1240

Closing Cost: $8160

Down Payment: 20%, 54,400 @ 4.5 Interest rate - 30 years 

Monthly Payment - approx. 1103

Rent Income: $2100

Property Taxes: 182/month

Insurance: $83.33/month

Vacancy: $100/month 

Capex: $100/month

Repairs: $50/month

Utilities - Tenants Pay

Cashflow: $482 = ($2100-$514.75(expenses)-$1102(mortgage)

ROI: 9.26%

HOA: 0

Management:  0, starting out managing myself 

Travel: 0 

Is there anything I left out that should be a major consideration or did I underestimate? 

Thanks in advanced!