All Forum Posts by: William Nguyen

Investment Info:

Single-family residence buy & hold investment in Houston.

Purchase price: $157,500
Cash invested: $36,655

This was my first investment property purchase. This was a turn-key property that needed light rehab and a tenant was found in 1 and half weeks.

Hopefully with proper screening and background checks my risk is mitigated for the future on repairs.

What made you interested in investing in this type of deal?

I wanted skin in the world of real estate other than my current home. I made sure to run the numbers so that it made sense.

How did you find this deal and how did you negotiate it?

I found this deal via the MLS and negotiate through my agent.

How did you finance this deal?

Conventional

How did you add value to the deal?

I did minor rehab such as paint, adding fixture, and overall cosmetic touch up of the property.

What was the outcome?

To be determine

Lessons learned? Challenges?

Lesson learned; take my time to do things right the first time, double/triple check everything, and keep my spirit high.

Challenges: learning to repairs things with minimal knowledge and help.

@Duy Nguyen
I'm also a beginner looking to learn and grow steadily. I'm currently in the market for SFH that I can apply the BRRRR method.

@Brian Chiu

If you don't mind me adding you as well and pick your brain about certain topics. 

William Nguyen 

Thanks for all the suggestions! My fiance and I are actually in the process of a refinance anyways so would a cash out refi be better for us? We are still in the market for a property so we aren't in a rush. 

I'm in the Houston area and my fiance and I both work full time making fairly good money. Family plus savings allowed us to put a significant amount into our first home. 

Hi Bigger Pockets community,

My fiance and I purchased a home in December 2018. We had both our names on the mortgage and around $140,000 equity into the home. The current interest rate peaked our interest to refinance and remove my name from the current mortgage for potential investment opportunities. We both are currently saving for a down payment but are entertaining the idea of a cash out refinance or HELOC to expedite the process if we do find a property.

This potential property would only have my name on the mortgage due to her's being on our current house. I don't mind staying at this property for a year and then moving out so we're also looking towards the MFH/House Hacking route. We're beginners and are still slowly learning the trade of REI so most likely looking into turn-keys or properties that doesn't need full rehab. I'm looking for property in the general area since I would still have to owner occupy it if I go that route.

I'm not sure if we're on the right path or we should just forget about the Heloc/Cash out refinance options and continue to save until we have 5% (Home occupancy) or 25% (Investment MFH) down payment. 

Anthony if you don't mind me picking your brain as well can you message me? I have some questions similar on the topic as well. 

Hello, Bigger Pockets community! My name is William Nguyen and I'm a Houston native. I am a logistic analysts by trade and would like to get into real estate investing. My end goal in real estate is gain passive income to subsidize my career, but my main focus is learning. 

I'm always up for suggestions, tips, advice, and pretty much anything relating to real estate. 

Hi, I can't seem to figure out the problem. I tried on different internet browsers and different devices including; Chrome, Microsoft Edge, Internet Explorer, and android phone. I get the same error every-time when I select/crop my picture only for it to direct me to my dashboard.