All Forum Posts by: Hyunwoo Shin

@Yia Vang

Good for you, but how many people do you think make over 67k a year and invest in RE? 

@Nathan Gesner

Gotcha. Thanks for your advice!

@Jon Holdman

@Jon Holdman

So I guess I have to live there and have some roommies instead of selling it with lease options.

I don't think lease options structured in predatory ways. 

At least mine will be just same as regular rental agreement but have separate agreement with "buyers repair everything" and "put xx amount of non-refudable deposit"

@Bill B.

Thanks for your advice!

@Jon Holdman

That's true but life is unpredictable. I could lose my job tomorrow or this location is not working for me then I can definitely buy a new house and rent it out. That's what my realtor and mortgage broker told me.

True, I'm not really "rent" the property but there is 90+% chance of people don't buy the house. So I think this is still a good REI tactic?

@Cassi Justiz

The reason why I was thinking of lease option is because more than 90% of people don't buy their first house. 

It will create about $500 cash flow if I rent it but I want to make little bit extra with lease option and get a big portion of non-refundable deposit. From there I can save up little more money to find 2nd house.

@Nathan Gesner

Thanks for your concern. I make $67k a year and trying to build my wealth with REI.

Have stable income and still have little bit of money after I put 20%.

Don't think I'm doing wrong?!

@Account Closed

I actually thought about to buy a multiplex with FHA but there is no good multiplex in the town I'm living in. Probably I should get another SFH with FHA and refinance in the future.

@Jimmy Smith

Yes I am aware of those options as well. Thanks for your answer

@Account Closed I am buying a home (for myself) but I will have to rent it out or have a roommate because my company is going under bad situation now. It doesn't mean I will lose my job but hour just cut little bit.