All Forum Posts by: Yuuj V.

I've never been more excited to lose money in the Stock Market.

Just means I can buy stocks at discounted prices. The S&P always bounces back, and historically has returned about 8%-10%. Don't think I'm advocating for stocks, but I invest in both stock and RE. Now to wait for the housing crash :)

@Chris Clothier,

Thank you!

Your words really put things into perspective for me. 

I just finished Grant Cordone's "The 10X Rule" and put a few goals together for 2019-2020, 2022 and 2025 and 2030. 

I work overseas, and like everyone else, I want to escape the rat races, but more so, I want to build my own empire like so many BP members have. GC really opened my eyes and made me think of big goals. But what I didn't think about was goals vs milestones. I set a pace for myself and said I'd like to have $10K passive income because its attainable within a years time, atleast I think, being in my situation. The long term (10 years) is to reach $500,000/year in passive income (I'm very conservative on that number, I think I can reach $1M). I kind of broke it down and said to myself as a challenge, to have $10K by the end of 2020. If I could reach that, then my next goals would be $25K in passive annual income. and from there it snowballs. (in theory on paper :P) Right now I'm hovering just below $2.5K.

Yes, I'm starting to realize that I should be patient and build my cash position for when deals appear. Good point on how to build my portfolio, through confidence and not out of fear or FOMO. I'm all about taking risks, not really risk averse. I just sometimes get tunnel vision and want things now, now now!!! 

@Lachionte Culpepper

I won't detail my experience as I'm going to write something up in a detailed post. 

They are no longer in the property management game, only portfolio management and sales of houses. They moved me to a PM they vetted themselves that nationwide and can handle the day to day operations (emails from owners asking for updates). Good move? Left to be seen. 

From Bidding to Closing, I'd say they were pretty good for a first house from an investor oversea's. Past closing (Rehab - Marketing - Asset management) I won't talk much about it on this post. Won't confirm or deny that I am unhappy or happy with their service. 

Hope this helps. 

They are a legitimate company and are great if you are thinking of doing Out Of State (OOS) investing. 

Hey @Chingju Hu,

The PM has been trying to get it filled. 

Unfortunately, I landed in a predicament where my former PM dropped me. A new PM picked up. During this time, the Tenant was about to move in (Section 8 / CHA) and thats when everything got lost in translation. We had to get certifications for a few things and fix up here and there. My new PM has reached out to the potential tenant, but they haven't called back. Guess we may be moving on in the next week. First house down, definitely not the best scenario, but thats not stopping me. 

I keep an extra $5K as a cash reserve... which, sadly and fortunately I had, I've had to use before on the IL house. But I keep it filled. 

These estimates don't include CAPEX. Something I'd have to check into before moving forward.

I appreciate the sound insight @Clayton Mobley.

I just looked at the house and ran some quick numbers. I didn't factor anything else in. I'm not even entirely sure what the condition is. They say it's "move in ready". So... maybe it's good?

The more I think through this scenario, the more I'm leaning towards holding  onto cash and just building a bigger position until I have $100K in cash and can *safely* purchase another without the gentle breeze knocking over my house of cards. I definitely should wait for the IL property to gets rented out. 

Cost of house in OH:

Cost: $94,000

Down Payment: $18,800 (20%) 

Rent: $1,220

Potential Rehab: $5000

Closing: $1400

Agent Fee: $3200 (maybe?)

Prepay Tax: $4800

Now, it is $33,200 total, but that is assuming the potential rehab is $5000. 

I make out pretty well. I work oversea's, so investing OOS is the only way I can go. 

I invest in both as well. However, full disclaimer, my ROTH IRA and 401K are strict indexes and mutual funds. For my brokerage account, I have individual stock REITs and a few indexes. The returns are no where near what a house could return, but then again, its no where near as stressful. I have stopped investing in stocks for a while due to my immediate focus of a cash dump for a house.

REITs and Rentals.

SP 500 Index is never a bad choice.

I personally like to keep 30/70 stocks to cash. No particular reason. 

Hello BP!

At the current moment, I have about $50K liquid. 

I already have a house with 25% equity on a $100,000. 

The house has not had a tenant since I finished everything, hoping that changes real soon. (since about July)

I am hoping it brings in about $300+ in CF if my math is correct. That is including a PM to manage the property. 

I see another house for $90,000, with an $18,000 downpayment, (And other costs ~$30,000) I could grab that house and, if my math is correct, will CF about $300+. (even with a PM)

I am stuck and not sure what I should do.

I am for a market crash, obviously no one can predict the future. So I want cash on hand, cash is king. 

But I'm getting FOMO fever (Fear Of Missing Out). 

Should I play it safe, and wait for property 1 to get rented so I can be a little on the safer side? 

I was planning on saving up $100K for a 'Boardwalk' type property in MA, but thats such a large DP, I feel like I can do better with 1 - 2 other houses. This property is a 'heartland' type property, no where on the coast east or west. (or even south). 

This is a good problem to have, but I'm not sure what I should be looking at or if my glasses are getting foggy. 

My goal for 2020 is to have $10K passive income from properties, $350K - $500K in net worth.

This is doable, but my mind is going in so many different directions, its to the point of paralysis through analysis. 

One property is based in IL, the other potential property is based in OH (I'm a long distance investor). Both are SFH's.

Insight is always appreciated.  

From the CEO,

"

So maybe it wasn't perfect timing and it is something they are working towards.

Again, I'll have a better write up once I collect my first rent payment.

HU, in my opinion, just got rid of the best thing about them.

I've read this from @Ian Ippolito's website

https://www.therealestatecrowdfundingreview.com/top-14-nonaccredited-realestate

He lists Fundrise, and talks about their individual eREITs and eFunds.

I hope this helps.