All Forum Posts by: Tyler Thavong

Take this with a grain of salt. But calculating your yearly ROI (1400 - 800)(12) then / 40000) . You see your ROI is around 18%. Is that good? Its is up to you. However you did not consider capital expenditures, water, electricity, and any other cost. Also take a look in the markets as of. Feds gave negative rates, so you may even get a better loan. Good luck!

Hey guys! I'm just looking real estate meetings and clubs that I can attend in or near that area. The ones that I've looked are decent drive. Thanks for any references!

I have yet bought my first property. (I'm 16) But I was talking to a realtor earlier. And we chatted on how buying a property works. Duel agents and other things that happen in buying. However, she did warn me about some flaws. Sometimes you might buy into a property that doesnt cash flow or just break even. What should be considered looking at a property? And ways to analyze a property using redfin or Zillow. Also I got my w2 form. (I worked all summer, round 4 grand)(invested 3k in stocks). How does this work, and doesnt it help to get pre approved?

I don't know much about your shed. But make sure you document everything(with photos) and talk about it with the tenant. If worse comes to worse, in which they stay forever. Have photos and documents on what happened in order to protect yourself in court. Even now, write down the date you found this out. Lastly you might be able to lock them out from the shed. As it's a shed shed. There may be liability issues, so do partake with caution.

Hey! Yeah I totally love your ideas and plans. I'm 16 currently and looking to learn as much as possible. For now atleast, try to grow your bigger pockets profile. And find a property type you like. For me it's a 4 plex or less (FHA's loans). Then learn as much as you can about those properties! Then learn how to do the numbers, NOI, expenses, and others like ROI or learn to start building credit( Your already 19) so open up a card! Anyways, if your really serious, like as frugally as possible. And if you would like, connect with me so we can share our experiences as we go!

So I live in the Elgin area( Illinois) and seen more and more apartment and commercial buildings popping up. Elgin is near areas that contain malls, and recreational activities. However it is a poorer area compared to those around it. From these new buildings popping up, is it safe to think prices in the Elgin area are going up? And is it worthwhile to invest while hoping more and more investors come into this area?

I havent starting investing yet, however I've been asking around. And my coach, recently bought an 8 unit apartment building himself. He worked with an agent and a partner. I don't know the partner specifically. But he got a commercial loan and split a down payment with his partner. For a 400k 8-plex he put 20% down (70-80k) . From what I can see, try to get funding for that down payment, or a partner that will help fund the project. Good Luck!

I'm saving up for a down payment and looking forward to buying a rental. How was your experience and when did you start? Errors and solutions? And lastly worries?

How should I get into real estate at 16? Investing in REITS or should I try to house hack. I want to be financially free by 30 or 35, but that is gonna take a lot of work. What is the best way to rent and hold properties? And how do loans and taxes get into things? Yet overall whats the best course of action for me to do? Books and resources that yall recommend are helpful!!