All Forum Posts by: Martin Yung

Thanks to biggerpockets, I know @Dawn Brenengen through BP. I actually flew to Raleigh and meet up with her and check out the city. I love the energy in the city. And of course thanks to Dawn who diligently find good deals and overseen all the rehab, renting and management of the property. She is indeed very trustworthy and the communication is timely.  

@Ayodeji Kuponiyi, As I am so far away, I prefer stability with lower return. I am budgeting 8% repair, 5% vacancy, 5% CAPEX, 8% management fees, $1,200 property tax per year, and $550 insurance per year. Since there is no mortgage, the CoC return is around 6-7%

I have contacted Firstkey Lending last year and they do provide financing base on the asset for foreigners. I am not sure whether B2R will provide financing for foreigners. 

@Dawn Brenengen might be able to help you. 

@Michael Jobe

I will be there from 2 August to 14 August 2015

@Michael Jobe @Matthew Saskin @Chad G.

I'm interested to invest in Raleigh NC too after 6 months of market research. I believe it has a good mix of rental investment for both cash flow and growth. 

I will be visiting the triangle area in August 2015 and would love to meet up with you all  

I believe a bubble only occur when irrational exuberance occur. For real estate, the triggering point would be the credit market just like 2007. When creditors are giving easy credit and unqualified buyers took it up, then the bubble will form and burst in the end. 

When comparing the fundamental, as an Asian, the fundamental here is way more broken compare to most western countries. (Most Asian cannot accept being a rental for life, so a home is a must no matter how high the price) Median income is very low, around 50-60k annually (ignoring currency) and buying median priced house at 400-500k 

Just curious, if the market is so hot? Why there is still off market deals around? Why don't the desperate sellers list it with an agent and get multiple offers / cash offers above the listing price in a couple of hours?

My concern with high property tax market will put a cap on the value of median priced properties. If the value keep going up, renting will be cheaper again due to high property tax. But I might be wrong as New York city has the highest property tax and yet it has 100 mil penthouses

@Chris Clothier @Curt Davis

What's the criteria for Premier Property Management to manage properties for Curt's client? Must it be turnkey products from Curt? Can properties bought through Curt as buyer's agent through MLS and rehab by Curt eligible too?

Thanks

@Brian G. @Adrian Chu

My concern with HOA is can the rules/covenants be changed down the road? For example initially during due diligence, the HOA rules/covenants allow rental without any cap. so investor happily purchase it as a rental property. After a few years, if some homeowners voted no to rental, can the HOA just change the rules and disallow or put a cap on rental?