All Forum Posts by: Allen Wu

@Rory Cox

What are your goals? How many units do you want to get to?

The answers to above determine the best path.

For example, I own 4 properties (5 units total). Pretty sizable loan, and want to pay them all off before I buy more (initially). However, after evaluation, I want to get to 10 units, will work for next 15-20 years. With inflation (my personal opinion), I will now save aggressively in cash until all my properties for at least 12 months reserves (mortgage, tax, HoA, cap ex, vacancy accruals, etc).

Then, anything north of 12 months, I’ll keep in cash. So, if inflation does kick in, in next 5-8 years (north of 4-5 %), for sure I’ll keep my properties as is and buy more real estate. If inflation stays at meager 2-3% (doubt it), I’ll deploy these funds to instantly pay off debt. Then, I’ll be super happy with my 4 rentals that are debt free. Finally, once paid off, any excess cash, I’ll re deploy in real estate, private placement reits, or some sort of private equity / small business investment play depending on which asset class has opportunity play.

@Rajiv Bm

All super hot markets. I submitted like 10 bids for round rock. No luck lol.

I have a solid Pm and investment minded realtor if you need someone in those markets. Just be prepared for multiple offers and open to waiting contingencies.

@Daivic Vora

I have a solid investment minded realtor if you need a referral. They are in California, Tx, FL, and AZ.

@Lance Adams

I have a solid one. PM me if you want their contact. They manage my single family and nothing but great work so far for last 12 months.

@Gary Clisele

My team is pretty involved. I have a solid PM for LA, OC, Cape Coral, Clarksville, and San Antonio areas if need you a referral or second opinion.

@Gervon Thompson

I would pay off loan first.

@Mike Terry

Would you still buy flood insurance even if it’s in X zone and not required by lender for sleep at night insurance?

@Allen Scoging

I’ll give you a similar scenario, but also want other BP folks to weigh in on my situation.

I bought a condo back in 2015 for 300k. Now exact unit in my building sold for 500k. I’m up huge on equity, but cash flow on rental is like -300 with all in cost baked in (mortgage, taxes, HoA, insurance, accrual/cap ex). Should I keep it and keep putting in $300 or sell for a gain.

Note: the reason why it’s -300 is because i had to refi for 20 years to get 1% off my mortgage rate. Initially, this property broke even every month, so if that’s the case for you, may worth considering.

@Mikel Kaubfa

I had to include lawn services and water in my rental. Reason is that the area I live in is strict on lawn maintenance and will fine you. Also, there is only 1 water meter so I put a cap and if it goes over, both tenants will pay. I bake it into my rent cost and outline it so tenants are aware.

@Deniz Eker

I’m in SE Cape Coral. The numbers just made sense on a duplex, so I pulled the trigger. Plus, there is foreseeable growth based on other folks opinion on BP.