Newbie from Canada, eh!

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Newbie from Canada, eh!

Xuan-Thy (XT) Bui
Richmond, British Columbia · Member since 2015 · 28 posts · 11 votes

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

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Douglas SkipworthBusiness Member
Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
10y

Hi, @Xuan-Thy (XT) Bui's replies earlier today in a forum about turnkey investing.  He touched on several of your questions.

https://www.biggerpockets.com/forums/311/topics/260960-out-of-state-investing

And, definitely look at this article by Chris Clothier.  Everyone agreed it's one of the best articles ever written about turnkey investing.

https://www.biggerpockets.com/renewsblog/2015/12/15/turnkey-real-estate/

As for appreciation, it's happening in all the parts of town where their is convenience, redevelopment, expansion, high income, or a combination of those factors.

Best of luck to you!

Investor's Guide to Memphis Real Estate
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  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    Hi, @Xuan-Thy (XT) Bui.

    Welcome to BiggerPockets (officially)!

    I'm glad you're enjoying the podcasts.  Be sure to check out the forums and blogs, too.  You can learn a ton from the real estate experts on the site.

    If you get specific questions about the Memphis area, please let me know and I'll be happy share my experience with you.

    Best of luck!

    Investor's Guide to Memphis Real Estate
    View Page
    0Reply
  • James Martin
    Property Management · Memphis, TN · Member since 2009 · 668 posts · 362 votes
    10y

    Howdie to Bigger Pockets! 

    1Reply
  • Andrew Mestas
    Orange, CA · Member since 2015 · 22 posts · 2 votes
    10y
    What's up dude!? Haha just kidding, just wanted to give you welcoming feel from California. Happy New Year and I'm new to BP as well but it sounds like you have experience in real estate. Good luck to you on your 2016 endeavors as well!
    0Reply
  • Xuan-Thy (XT) Bui
    OP
    Richmond, British Columbia · Member since 2015 · 28 posts · 11 votes
    10y
    Originally posted by @Douglas Skipworth:

    Hi, @Xuan-Thy (XT) Bui.

    Welcome to BiggerPockets (officially)!

    I'm glad you're enjoying the podcasts.  Be sure to check out the forums and blogs, too.  You can learn a ton from the real estate experts on the site.

    If you get specific questions about the Memphis area, please let me know and I'll be happy share my experience with you.

    Best of luck!

     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!
      

    1Reply
  • Xuan-Thy (XT) Bui
    OP
    Richmond, British Columbia · Member since 2015 · 28 posts · 11 votes
    10y

    @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!

    0Reply
  • Xuan-Thy (XT) Bui
    OP
    Richmond, British Columbia · Member since 2015 · 28 posts · 11 votes
    10y

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

    0Reply
  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    10y

    @Xuan-Thy (XT) Bui

    Bienvenue chez BP!

    Si vous voudriez pratiquer votre français il y a des gens ici qui pourrait vous aider.

    If you have questions about investing in the Maritimes, feel free to drop me a PM.

    0Reply
  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    @Xuan-Thy (XT) Bui,

    You've definitely come to the right place!  There is a wealth of information about Memphis and turnkey investing on BiggerPockets.

    Memphis is a great city for cash flow investing.  There are also pockets in the area where appreciation is possible, too.

    I've never seen the statistics published, but my guess is that there are thousands of own-of-town investors, many of whom are from around the world, invested in the Memphis market.  It's truly an international destination for residential real estate investing.

    I don't think Memphis is too mainstream (I'm still actively buying here myself).  Just be careful to not to overpay, overleverage, or mismanage your property.  Actively asking BP members in these forums about your opportunities and local partners is the best way to make sure you are avoiding those three deadly sins (overpaying, overleveraging, and mismanaging).

    As for turnkey providers in Memphis, there are at least 5 first class groups to choose from that are active on BP.  There are a few others in town that aren't active on BP that do a good job, too.  Again, just ask the BP community and we'll gladly chime in about who you are vetting.

    My best advice as far as rules of thumbs go on turnkey investing is just be sure you are buying for the long term.  Turnkey investing is NOT for flippers.

    Keep asking all these great questions and I have know doubt that you'll do very well in your investing career.

    All the best!

    Investor's Guide to Memphis Real Estate
    View Page
    1Reply
  • Xuan-Thy (XT) Bui
    OP
    Richmond, British Columbia · Member since 2015 · 28 posts · 11 votes
    10y

    @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

    0Reply
  • Xuan-Thy (XT) Bui
    OP
    Richmond, British Columbia · Member since 2015 · 28 posts · 11 votes
    10y

    @Roy N. Merci monsieur! Je peux le pratiquer avec ma femme (elle a fait French Immersion) mais nous sommes trop lazy! 

    0Reply
  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    Hi, @Xuan-Thy (XT) Bui's replies earlier today in a forum about turnkey investing.  He touched on several of your questions.

    https://www.biggerpockets.com/forums/311/topics/260960-out-of-state-investing

    And, definitely look at this article by Chris Clothier.  Everyone agreed it's one of the best articles ever written about turnkey investing.

    https://www.biggerpockets.com/renewsblog/2015/12/15/turnkey-real-estate/

    As for appreciation, it's happening in all the parts of town where their is convenience, redevelopment, expansion, high income, or a combination of those factors.

    Best of luck to you!

    Investor's Guide to Memphis Real Estate
    View Page
    3Reply
  • Xuan-Thy (XT) Bui
    OP
    Richmond, British Columbia · Member since 2015 · 28 posts · 11 votes
    10y

    @Douglas Skipworth

    that's awesome, thanks Douglas - i'll be sure to check out those links!  have a great day!

    0Reply
  • Kris Mcfarlane
    Rental Property Investor · Chilliwack, B.C. · Member since 2015 · 115 posts · 37 votes
    10y

    Xt as I know I will misspell your name, private messages to other bp members - I am as lost as you are and I am literally computer illiterate! Either I am doing it wrong or people don't want to respond to me, I'm hoping that its the first reason and not the second haha. Listening to all these bp podcasts investing in the states dose sound interesting but what I don't get is how come people in the city don't see the profitability of rentals in the sticks as you city folk call it meaning Abby/Chilliwack? Those markets have been good to me! How do you find the condo market and what is that attraction to buying a multifamily where you are only making 150 a door, wouldn't a local investment where you make on the rehab and 600 cash flow positive on two suites, an upper and a lower, be just as profatable?

    I'd be interested in seeing your reason for the overseas multifamily, I do understand why you wouldn't want to buy in Van, you have to have deep pockets for that but there is still reasonably high profit margins out in the sticks on the rehab and also the rent. 

    I'd be afraid of having an investment and having it being so far away, just my experience with working out of town and having my rentals on the coast; but thats just my experience anyways. 

    0Reply
  • Alex CraigBusiness Member
    Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
    10y

    @Xuan-Thy (XT) Bui  From time to time we have private money available for our international investors.  Right now, we have enough left to do one deal.

    901-848-9028
    0Reply
  • Steve Smith
    Flipper/Rehabber · Vancouver, British Columbia · Member since 2015 · 7 posts · 1 vote
    10y
    Hey Xuan-Thy Bui , I'm a Vancouver BP member. I'd be happy to meet up for coffee to trade stories and strategies!
    0Reply
  • Crystal SmithPro Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
    10y
    Originally posted by @Xuan-Thy (XT) Bui:

    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!

    I won't comment on the markets but I'll send you a PM w/ some contacts we're working w/ in Canada that are investing in the US market.

    312-681-7487
    0Reply
  • Ash Badry
    Investor · Edmonton, Alberta · Member since 2013 · 61 posts · 19 votes
    10y

    @Xuan-Thy (XT) Bui Welcome to the Family! There are plenty of investing opportunities across Canada, you just need the right team to help you achieve your goals. We invest locally here in Edmonton and are making great returns. If you ever want to hear more about the market here and how we play in it then feel free to drop me a line.

    0Reply
  • Samuel Sedore
    Real Estate Agent · Kitchener-Waterloo-Cambridge, Ontario · Member since 2013 · 408 posts · 90 votes
    10y
    Originally posted by @Xuan-Thy (XT) Bui:

    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

     Congrats always good to see another Canadian! If you ever have any interested on my market let me know ill send you some info. We are number 1 in Ontario for growth,

    0Reply
  • Alicia Horton
    Blue Springs, MO · Member since 2015 · 45 posts · 15 votes
    10y

    Welcome to BP!

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    10y

    @Xuan-Thy (XT) Bui

    Welcome to the site. Tons of turnkey guys in every market you described here in the forums.

    After narrowing down a couple markets I recommend you fly out and meet and greet with your potential teams and really get a feel for the area.

    0Reply
  • Dawn Oishi
    Real Estate Agent · Sachse/Dallas, TX · Member since 2015 · 42 posts · 13 votes
    10y

    @Xuan-Thy (XT) Bui

    Welcome to BP!  There is a lot of great information to be found here.  Take a look around. You are looking at some of the hot markets to invest in.  I have a couple friends who are all over the Kansas City market.  I also have a few out of state investors doing the smaller multi family props here in Dallas.  If you have questions about the Dallas market, feel free to ask!  Good luck!

    0Reply
  • Mark Alexander
    Whole Saler · Kansas City, KS · Member since 2015 · 54 posts · 11 votes
    10y

    @

    Hi Xuan-Thy Bui, I don't know French, so I will just keep it simple and put it in English. Welcome to BP, I'm a wholesaler in the Kansas City area. If I can help you in anyway feel free to message me. Just please keep it in English. LoL! 

    0Reply
  • Madison Nobbs
    Vancouver, British Columbia · Member since 2015 · 8 posts · 2 votes
    10y
    0Reply
  • Jason Hawk
    Real Estate Services · Olathe, KS · Member since 2015 · 329 posts · 57 votes
    10y

    Xuan,

    Welcome glad to have you here in BP.  I'm located in Kansas City.  We are getting excellent returns on single families 3-4 bdrm 1-2 bath. Message me if you want to discuss

    Jasln

    0Reply
  • Ash Badry
    Investor · Edmonton, Alberta · Member since 2013 · 61 posts · 19 votes
    10y

    @Madison Nobbs The new Ice District in Edmonton is definitely exciting and it's ripple effect of lifting property values is already reaching some of the nearby rougher neighbourhoods. I personally am not currently investing in that area, I focus in the northeast part of the city and do the BRRR (Buy, Rehab, Refinance & Rent) strategy. Feel free to PM me if you'd like to hear more.

    0Reply
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