All Forum Posts by: Tony Mai

Originally posted by @Jo-Ann Lapin:

Built on the 50's in CA you should put earthquake insurance on that too. Just my own personal opinion 

Thanks! Jo-Ann.  If I end up buying this I will purchase Earthquake insurance.

hey cemone,

I depends how aggressive you want to be.  Obviously being the most aggress you would pay as little as you can on your loans and reduce your debt/borrowed money.  Save what you would have paid into the loan repayment.  Then use that money towards a purchase.  You can put as little as 3% down on your first purchase of your 1st primary home.  Hope that helps!

Wow that's amazing what you are doing.  I'm from California but if I lived in St.Louis, I would be all over this.  I think this says a lot about where your company stands.  Sometimes we forget for a second that there are less fortunate people than us everyday.  I hope you will get someone deserving to take this and its a plus for everyone!

I would love to see who gets it and the progress that they make!  Should be lots of value added to the BP community!

A warm hello to everyone on BP,

I wanted to introduce myself to the community. I am a little new at this but I am looking to learn and add value to the community as I grow. I hope everyone is doing great and hopefully everyone will have bigger pockets as time goes a long!

My name is Tony. I have a full time corp job. I'm looking to grow my real estate portfolio. I got some capital and I'm looking to convert my active income into a passive one. I am looking to make some great relationships and find some great deals. It is also reassuring to know that I'm not the only one out here! Feel free to say hi or add me as a colleague!

-Tony

I was hoping the BP community can give me advice on this deal! Here are the terms Selling price 1,000,000 on 4 plex 4 units all 2bed1bath Rent is 1500/unit for 3 units one unit is at 1400(so a little room to raise rates) market rent rate ranges 1600-1400 for these types of units. Cap rate 4.5% 35% down Positive case flow if I do my own property management at $500/mo and assuming a 3% vacancy,1%capex,1%maintenance. ROI 1.4% this is socal and everything is expensive Building built in 1950 The property is currently fully rented with long term tenets. The vacancy rate might be lower but I assumed 3%. And if/when I take over there maybe some turnover. I might be able to raise the rent a little bit but I don't want to loose long term tenets. The property has a good chance to appreciate over time however the building was build in the 1950s. I would assume my capex maybe higher in the future I have 375k in capital. I'm looking at this 4 plex in a well to do socal city but the property is a low end property. Low end in this neighborhood can be low to middle class in other socal locations. I'm a buy and hold investor but I'm shifting toward a more mixed portfolio possibly buy hold and sell or refi after some appreciation. I want to scale up for 20years and do not want to miss out on other deals. My main goal is to make passive income for retirement 20yrs from now. I have a full time job at a corporation. It would be nice to get out of corp and do this full time because I enjoy REI so much more. Hesitation: I don't know if this is a good deal after seeing what other investors are getting in other states with less capital up from with a high ROI. I want to buy this multi family because I live in socal but buying this will tie up a lot of my capital. It seems like a stable investment but should invest out of state where the ROI is higher? What are your thoughts? Take the deal,save and then buy the next?