All Forum Posts by: Tuan L.

Thank you @Dave Schneider. For the tax proration, just say if the tax is 8000k a year, how does the tax proration work?

Hi BP community,

Excluding the realtor commission, what is a typical closing cost for a 2,500 square feet house near Chicago (near Joliet to be specific)? I read on a website and it mentions

Real Estate Tax Prorations: In Illinois the seller has to credit the purchaser with a real estate tax credit for their unpaid share of taxes.

If you are familiar with Illinois real estate, please explain what this means.

Thank you very much!

Great advice Johnson. I do look for properties with at least 1% rent to value in good school or easy commute and low crimes. The realtor I talked to also suggested to avoid flood zone and look for houses with 2 car garages since it is what people want in Houston. I joined the Meetup group you created.

I use 5% vacancy rate ( from what the realtor told me, it is average 8% in Houston, but with good property management, it is 1%), maintenance (5%), cap ex (10%), insurance (1% property value), property management (10%). Do you have any advice on these numbers?

Thanks for the info Ryan! I'd definite look for opportunity to meet up with other investors.

Thank you for your suggestion Mark

Thank you Roland. RE note is still new to me and it can definitely an area that I can look at in the future. Do you recommend a book for RE note?

Hi everyone,

My name is Tuan. I am from San Jose, CA and is new to real estate investor. I have always been interested in investing in general. I am more familiar with stocks/funds but new to real estate. I have been learning from BP guides for the past few weeks and it has been extremely helpful.

My goal is to create passive income from rental properties and build up my portfolio. Right now, I am looking mainly in Houston area. I have been to Houston a couple of times and think the city is developing well. I am interested in SHF in low crime areas and good school/ easy commute to large companies. Multi family is also an option, but it needs to be in good location. In the search of properties, I have reached out to realtors in Houston as well a property management company.

I would love to connect to other BP members who share the same interest or live in Bay Area/ Houston.

Thank you!

Hi everyone,

I am a new investor in Silicon Valley, CA looking for rental single house family (prefer to be less than 200K) in Houston, Texas. I have been to Houston a couple of times and have reached out to realtors in Houston and a property management company. Would love to connect to any real estate investor in Houston or in the Bay Area. Anyone has been investing in Houston, please feel free to share your advice (which area to avoid, tips, recommendations, trends your are seeing, etc.).  

Thank you!