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All Forum Posts by: Tuan Le

Tuan Le has started 6 posts and replied 123 times.

Post: The diary of a 2nd flip

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32
Originally posted by @Huy N.:

@Brian Johnson My commercial credit line is based on my rental house as collateral. not my primary residence. 

You are right. Not every lender is comfortable with lending credit line on rental house. But i was able to find a good one is Houston Texas. I will check if he is able to loan outside of texas and let you know.

Don't even bother to go to the big bank, what you need to find is a portfolio lender. They can be found at networking event/ small bank/ community bank.

 Can you PM me the lender?

Great resource!

Thanks for sharing!

Post: What is an "assignment fee"?

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

Since you don't actually get paid until closing.

Where do you usually put the "assignment fee" and do you have to disclose it?

Post: Motivation for Newbies like myself

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

Thanks for sharing! @Anthony Bostic  @Andre Elston 

"We must remember we are not the sum of our intentions but of our actions" - Brendon Burchard

I have to agree with what you guys said.  Before I purchased my first property,  I was reading up on everything I could.  I was getting data overload and analysis paralysis.  One day I just pushed all my books and articles to the side and quietly thought to myself what am I comfortable with.  I've always been fascinated with flipping but more comfortable with buy and hold.  So I focused on buy and hold.  

Action, Action, Action.  Get out there and get in the dirt.  You can only learn so much from articles and book.

Post: Texas Lease Options

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

From my real estate class, we're told lease options are to be written by an attorney.  Real estate agents aren't allowed to touch those.  You may want to check on that with a real estate attorney.

Post: Rei groups/clubs

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

Try meetup.com

I found a few that was in my area using that site.

Post: First Wholesale Deal Closed!

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

@Anthony Bostic Congratulations on your successful deal! Thanks for sharing.  It gives us other newbies motivation.

How did you find out the ARV? Did you hire an appraiser?

Post: Cash first or finance first?

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

@Joe Villeneuve Does this work with only distressed properties or properties that you know will have ARV? If you buy a house around market price with cash and then refinanced, wouldn't it be the same as leveraging it?

Did you ever have issues with refinancing if your other properties were also refinanced?  

Post: Property Management Software comparison

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

@Dooreuhn Cee Do you have any recommendations for the free versions?

Post: Property Management Software comparison

Tuan LePosted
  • Investor
  • Houston, TX
  • Posts 142
  • Votes 32

@Dooreuhn Cee Great comparison! I only have a few properties but it's never to early to plan ahead.  Thanks for writing and reviewing what's out there.