All Forum Posts by: Andrew Luong

+1

Hey Team - Also looking for a few contractor referrals as well.  Goal is to expand more aggressively in Houston this year (latest deal is by way of a wholesaler) and looking for a few contractor referrals.

Hey @Dave Foster - Thanks for the detailed explanation! Ultimately did the purchase (though it was tricky since the replacement property was bought in a single-member LLC). Still have more funds to go reinvest!

Hey Team,

Tried doing some research on this and haven't quite come up with concrete answers.  Could you help me understand what happens with a 1031 if a seller has low/no equity in the home?  Here's an example:

• Purchase - $100k
• Mortgages:

1. 1st - $100k
2. 2nd - $100k
3. Equity = $0

• Sale Price - $200

How would the 1031 be assessed if the sellers are bringing cash to close?

Cheers!

Andrew

Hi All - Great insights here.  When we're looking at suburb, B-class rentals here, we're talking about market rental rates @ ~$1,200 - $1,400, right?  Currently have a smaller trial portfolio out in Houston and liquidating a larger one in California.  Thinking of going more heavily in Houston.

Selling off a portion of my portfolio and looking fora 1031 intermediary referral!

Ohh no - I missed it!  Would love to make it out next time

Hey Team,

Currently looking to sell off a few properties in the North Sacramento / Del Paso Heights area.  Currently have good tenants but fear that I’m not a great property manager and would like to recapture my equity to continue building the TX portfolio.

Here are the details - there’s some upside in the rents as most tenants have been there some time:

• Property 1 - 3 bedrooms, 1 bath, 880 sqft - $975/month rent
• Property 2 - 3 bedrooms, 1 bath, 928 sqft - $1,350/month rent
• Property 3 - 3 bedrooms, 2 baths, 1,001 sqft - $1,175/month rent

If interested, shoot me a note to [email protected] for more details.

Cheers,

Andrew

Awesome work and best of the luck with the next!  Looks like we're doing similar work!

I think the answer for this really depends on your ultimate goal!  I'm a California-based investor in Houston but am interested in Austin as well.

• Austin - Diversified economy with growing tech-sector (I'm also heavily involved in tech).  Con is that some of this has been priced in already and therefore cap rates have been reduced.
• Houston - Also a huge metro with a very strong economy.  Higher cap rates due to higher rent/price ratios but don't foresee as much appreciation potential as Austin here.

Hey @Matt Shields - Good idea!  Fingers crossed on this one but had an alarm system installed over the weekend and it should help.  For future references, did you have a recommended alarm company?