All Forum Posts by: THU NGUYEN

Congrats!  Awesome Flip. 

Thank  you much for your input.  

@Jay Hinrichs...Thank you for your feedback.  I do not need to CF to pay bills either.  It would be nice of course but from reading and listening to podcast, it seems like CF is the key driver for rentals.  I just want to make sure I am not making mistakes.   

@Matt Millard How is your return in OK?  I have some family there that I can look into it.  Can you please share your experience investing in OK?  Rental through PM?  Good CF?  Did you buy turnkeys or distressed and rehabbed?   Thanks in advance.

Hi BP,

I am analyzing a deal that I am interested in, almost turn key, ARV: $150; asking price: $115K, closing cost: $2K, repair cost $7K. All in cash for $124K. Assume I can refinance and get back $112.5K (75% of $150K), my cash out would be around $12K, equity gain would be: $25K

My diploma is this after I deduct all expenses including PM, commission, mortgage, tax, hoa, insurance...I end up with almost nothing ($500 a year is my number).   I am still interested because it almost doesn't need any work (even though the seller quote $7K for paint and clean up), I can take advantage of the equity built up through tenant paying mortgage, depreciation.  

Am I off base here?  

Thank you much in advance for your input.  I know the experience investors would not but I am a newbie, still trying to learn and built up my rental portfolio by having tenant pay my mortgage.  No CF now so the only thing I can count on is the benefits of having a rental or decide to sell after 1 - 2 years?  

Same here: looking for CPA referals.  Appreciate if you can recommend someone you have used and liked. Thank you much in advance.

@ @Tony Castronovo, fyi: I paid a little higher interest (4.5% vs 4.375% for refinance) to get some credit backs to help pay for closing cost.   The credit amounts depend on the loan amount.  Check with your broker on that if you are interested.  PM me if you want to talk to the broker I use.

@ Brent Coombs, 

How many deals have you done and have you found it easy to find deals with BRRR in Ohio where you get 100% of your cash back?

@ @Tony Castronovo, love your idea of preparing package for appraiser.  They always ask me to send them a list of improvements via email.  I just gave them a verbal list of what I did.  Fortunately, they did come back with good numbers that are very comparable with the active and sold properties in the same subdivision.   I do see more deals in Katy lately, I'll make sure to send it your way.  Congrats again. 

Yes, it has been a very busy 3 months but now it's all done (putting tenants in place, done with re-finance)...Time to buy more.  I want to get 3 more before the year end but as I am getting more experience, I want to have more discount which is even harder to find...:( 

Congrats!  That's awesome! Keep going to number 10 Tony

Ask for copy of checks that they claimed they paid rent or any kind of proof that rent is paid on time. I have had bad tenants with perfect credits and perfect tenants with bad credits so as long as they can show they have income and can provide rental history, you will be fine.