All Forum Posts by: Xuan-Thy (XT) Bui

@Douglas Skipworth

Thanks for the quick info! A turnkey provider basically removes the renovation portion of the equation right? Are TK properties usually tenanted as well?  I was checking out another BP member's TK website and it looks like they also provide a property management service along with the properties.  Is this the norm? 

I keep hearing that the money is made at the time of purchase so if the TK property doesn't cashflow like the company says it currently does that could be a big issue over time!  What areas do you believe has appreciation potential in the coming years and for what reasons?  

Again thanks for taking the time to respond on NYE!

-XT

ps. how do I send private messages to other members?  do they have to be added as a 'colleague' first?

@Andrew Mestas haha love it, what's up indeed!  How's the housing market in Orange? (had to google map it).  CA is a somewhat crazy market as well although I don't think it's quite as high as Vancouver at the moment.  We looked at a 1970 built property (basically a tear-down) in Southern part of Vancouver on a 4,000 sqft lot and it sold for $1.75M - pretty ridiculous if you ask me.  

All the best in 2016!

 Thanks Douglas! How does Memphis fare when compared to other investor friendly (ie, out of state investors, ++ cashflow) markets around country?  Is Memphis becoming too mainstream for newbie investors, and would that be a bad thing?  Also what's your experience with turnkey providers? Is there a general rule of thumb for the turnkey property and its associated drop in cap rate? 

Thanks for the quick reply!
  

First I'd like to wish a happy and prosperous new year to everyone and may 2016 be the best one yet!

...and on that note, hi!  I should start off by helping you with the pronunciation of my name: "Swan-See".

I'm originally from Montreal (hence the "Swan-See" - it's much easier to attempt my name in French) but moved out to Vancouver area back in 1992 (wow, ages ago now!). I grew up speaking French, unfortunately if you don't use it you'll eventually lose it. Definitely well on my way to losing it.

Found out about Bigger Pockets through a real estate investor friend of mine and loving what BP has to offer (especially the podcasts - listened to all of them over the paste several months).  I currently own a rental condo in Burnaby along with my primary residence in Surrey and my wife and I are at a point where we're ready to be move forward with actionable steps to achieve our real estate goals.  We'd love to invest locally however the the high real estate prices in Vancouver & surrounding burbs make it very difficult to accomplish without the needed deep pockets.  

Our next move is looking at the US markets and my goal for 2016 is to own a 2 to 4-plex property cash flowing $150/door with a conservative goal of 25 units in 5 years, using a buy & hold strategy.  The markets I've heard that are providing good cashflow are Memphis, Chicago, Kansas City, Birmingham, Dallas.  Would love to hear your opinions on those markets and others that you believe are good areas to check out!

As for local meetings, I'd love to meet with some of the local Vancouver area BP members that are either investing in Canada (ie. Vancouver, Calgary, Hamilton, Halifax, Moncton?) or actively investing in the US.  Coffee's on me of course!

Looking forward to our future conversations and learning from this awesome community!

-XT