All Forum Posts by: Yooni Choi

Hi! I'm just starting out an RE journey and am thinking of my first property this year. The thing is, I will be moving out of the current state leaving myself to either self-manage or hire a PM for my property. I am leaning towards the self-manage option and got several questions regarding self managing a property while living out of state. I will be buying a multifamily property in a landlord-friendly state without any rent control. My questions are:

1. How should you handle showing of the units?

2. How do you conduct move-out inspection and cleaning once a tenant moves out?

3. Is there specific tool you like to use in order to manage your property in regards to rent collection, report maintenance issue etc.?

4. Any other stuff that I should be aware of when trying to self-manage a property?

I think a lot of people here in biggerpockets like to advise people to have a PM. I do understand how PM can handle all the hassle, but I would appreciate if someone could provide me an insight with 'self-managing' as I already have found abundant resources around using a PM! Thanks in advance.

Hi! I'm just getting started in real estate and am currently working with my realtor to get my first house hacking property, possibly a 3-4 multi family home in Pittsburgh. My goal would be primarily cash flow rather than appreciation unless there's a property with a good chance of flip. 

So my plan is to house hack for few months and then move out so that it can generate some cash flow.. (I will be moving to different states) While I was chugging number for some of the properties that I'm looking at, I came to wonder what would be considered as a good, decent cash flow once I move out. With 5% down payments and all the expenses deducted, there seem to have close negative/only around $100 cash flow each month. Is this still considered ok? It passes the 1% rule, but it barely does. What should I prioritize when investing in real estate? Any advice would be helpful as I'm just starting out and am very excited for this whole journey ahead!