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All Forum Posts by: Jay Yiu

Jay Yiu has started 8 posts and replied 11 times.

Post: Newbie question

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
I never buy or sell any house, so my question is what question should i ask or what should i say to the seller when i want to buy the house? What do i need to know or hear from seller?

Post: Where to find deal to analyze

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Hi all Can anyone tell me where can i find deal to analyze for practice?

Post: Need help to Analyze deal

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Hi all, today i want to ask how to analyze deal and any quick tip to analyze deal or how to know which one is good deal or bad deal? For example I saw a house for sell and i want to buy it, it can be a rental property. 1. What number i should know? 2. Where and how i can find those number? 3. How can i put all the number together? 4. After all what number finally i can get to know a good or bad deal? Any quick tip

Post: Its all about math

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Hi all, today i want to ask how to analyze deal and any quick tip to analyze deal or how to know which one is good deal or bad deal? For example I saw a house for sell and i want to buy it 1. What number i should know? 2. Where and how i can find those number? 3. How can i put all the number together? 4. After all what number finally i can get to know a good or bad deal? Any quick tip

Post: Its all about Math

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Hi all, today i want to ask how to analyze deal and any quick tip to analyze deal or how to know which one is good deal or bad deal? For example I saw a house for sell and i want to buy it 1. What number i should know? 2. Where and how i can find those number? 3. How can i put all the number together? 4. After all what number finally i can get to know a good or bad deal? Any quick tip

Post: Finding a mentor

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Hi everybody, my name is jay,i'm 24 years old, from Arkansas, i'm a newbie didn't know much about real estate investing and i'm here to looking for a mentor who willing can teach me what they know, im very appreciated, and i'm willing work for free, dont expect anything in return, one agian im very very appreciated for someone who willing to help me.

Post: Newbie

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Originally posted by @Nathan Emmert:
Originally posted by @Jay Yiu:
Originally posted by @Nathan Emmert:

Not enough info to evaluate if it's a good deal... but based on the math, $5,500 + coins a month at $330,000 it is definitely worth exploring further.

So what els info to need to evaluate a good or a bad deal?  Any quick tips? 

What are the taxes? What is the property insurance? Do you require flood insurance? Do you pay any utilities? What do the utilities run in your area? Is there any deferred maintenance? How much have they been spending on maintenance? Are there any CAPEX things coming up soon? What sort of vacancy has the property typically run? Are the units rented at market values? Are there leases in place? Are those tenants actually paying their rent or are they warm bodies?

All you know right now is what they are asking, you have no idea what it is worth.

You need to understand how much is going to come out of pocket in the near term... i.e. getting the property "performing".  That could require repairing things, improving things, evictions, etc... that all needs to be figured into your cash outlay.

You need to have an idea of what sort of GOI you'll generate.  That will depend on typical vacancy rates for the area and market rents for the property you'll have (how much you spend above based on your definition of performing may alter this... slum lord?  Taj Mahal worthy upgrades?)

Then you need to understand your NOI... what are your expenses going to look like on the property. Look at some historical data but realize it's probably not all inclusive, use some of your own judgement (if, including vacancy, your expenses are less than 45%, you're probably missing something).

Once you have NOI you can look at your debt servicing and figure out cash flow from there... that's the process... A, B, C, D...

 Thanks for the tips. Really hepeful

Post: Newbie

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Originally posted by @Max Shaw:

@Jay Yiu  Is the property in Fort Smith? I'm just up the road in Fayetteville. @Nathan Emmert pretty much hit the nail on the head. Along with everything he said, also look at the area as far as jobs and potential for future growth. Obviously its being sold for a reason, your job is to figure out why and what value can you bring to the table to make the property as profitable as possible. 

 Yes this property in fort smith

Post: Newbie

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
Originally posted by @Nathan Emmert:

Not enough info to evaluate if it's a good deal... but based on the math, $5,500 + coins a month at $330,000 it is definitely worth exploring further.

So what els info to need to evaluate a good or a bad deal?  Any quick tips? 

Post: 10k$

Jay YiuPosted
  • Fort Smith, AR
  • Posts 11
  • Votes 6
I have only 10k in my pocket. But i like to invest on rental property for long term. I dont know how and where to start it. If you were me? How do you do it with that 10k? Any advices from pro?