All Forum Posts by: Dennis Vo

@Amber Koontz, @Hung Trieu, Please contact Mr. Hunter Vigneault at Norhill Realty.  He is also a pro member at BP, so you can find all his info when placing on search.  Hunter is mainly focus on multifamily, so he will definitely be helpful to your needs.

@Amber Koontz, I thought about OOS investing, and may pursue in the future. The main market I may focus on is Houston, because I have relatives there, and there are definitely opportunities within the rings of Houston.

Currently, I am extremely busy with my construction business in OC, Ca, so the thought of OOS investing may have to postpone.

I am actively investing in OC, Ca, and will probably sustain here for a while... because of the relationship I have developed with the colleagues in my construction industry. I receive deals from brokers and realtors that I have been working with for years, and when it comes to rehab my properties, I can use numerous subs and my crews to fix my investments. This is why I am very comfortable with the OC market, and have found my own little niche here.

Since you mentioned that you are new in RE, my #1 suggestion is building a strong-working-relationship with the people you work with in your RE journey. You will be surprised of how easy it is to successfully accomplish your goals when you have a trust worthy team.

Good luck

@Amber, David, and Joseph,  I have been receiving multi-properties listing from Mr. Hunter Vigneault (apartment specialist in Houston area), and there are some really good deals; however, these units need lots of rehab.  If you are savvy with construction, then you should look into "really depressed" properties in Harris county.

I wish we have that type of properties here in OC, Ca  :)

Good luck 

Be able to see and own my mistakes, correct them, and move forward

@Michael, if your property qualified for Section 8, and your potential tenant voucher matched your rental requirements, then why not rent to your potential tenant(s)?  

Some of my best tenants are from Section 8.  There are many advantages with Section 8 program

@Alec, since you are not familiar with all the components in construction, it's wise to hire a professional inspector to check your investment... especially with items that are not visible such as in the attic or crawlspace.

@Amanda, first turn off your water meter at the city side, then disconnect your side lateral line that is connected to the water meter.  Then turn the water meter on slowly at the city side, mainly to check the pressure from the street to your house.  Most likely, this pressure should be strong.  If it's weak, then call the city to check for you.  If the flow is good, reconnect your lateral line to the water meter, and move on to the next step.  

Now, check your water flow (presure) at the closet hosebibb which is nearest to your water meter.  If the water doesn't flow well, then the plug is between your meter and the hosebibb.  But if the pressure is still strong then move on to the nearest water output (faucet, toilet, etc.).  Keep on testing at incremental sections... until you encounter the water flow dropping.

@Mike Wood is right about corrosion... especially with galvanized pipe.  Since your house was built in 1930, built-up calcium is another major problem.

If you are going to replace your water supply lines, you may want to consider "pex piping".  The technology is really good now, and the material and installation are much less than copper.

Good luck

@Brian Washburn, one more item to your list:   make sure all rough works (electrical, plumbing, etc.) should be inspected before your contractor closed off walls with finish materials (drywall, siding, stucco, etc,)

@Alaska Wagoner, It will be difficult to find any decent SFR in OC with 55K. This market reminded me so much of 2005-2006... which is seller market.

I sold two of my properties last year, and just wait for the market to stabilize before investing again.   I am currently working on a few construction projects for new investors, and I don't see how they can get positive cashflow on their investments.

OC is a great place to live, but you don't want to strap your cash on an expensive property; and missed out on future properties when the market is more reasonable.

Good luck  

@Michael Zuber,  thank you for your wisdoms

@Caleb = so true

@Chris, Don’t waste your hard earned money.

I went to 2 seminars like this company before, and they just don’t work… at least for me and the people in our class. We first went to an “orientation” for free, and they threw out all kinds of statistics of how easy ones can make money. After the first freebie, they asked for $5K for a two-day-class, where they will walk us through their RE process/technique of finding deals, finding lenders, etc.

After the two-day class, they asked for $20K if you want continue work with them directly to find, analyze and purchase deals. However, when we asked for former successful students, where we can ask/interact with them… the school only shown us slides of active members, but not real persons. Their reason was that these members are from Florida, and not in California.

I paid $5K for the two day class for one of these schools back in 2006, and got a whole bunch of books, which I can purchase from Amazon (except in different covers).

I believe that the best way to learn and invest in RE is spend lots of time research on BP, and educate yourself through books.

Good luck