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All Forum Posts by: Leng Thao

Leng Thao has started 1 posts and replied 44 times.

Post: Payoff House vs. investing it

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

Casey,
I would rather invest the extra cash rather than pay off the mortgage. At a rate of 4.5%, I feel it would be to your advantage to invest the extra. Overall, your financial picture will be much stronger with time using this approach. What you need to do is look at your financial statement, your income, debt, assets, and liabilities. You will see that with income properties, your net worth will grow much faster than paying down debt. Start crunching the numbers, break it down, and you'd be surprise.
Also, as an added bonus, with rates still low it is a great time to be a borrower. Most of us if not all will agree that the rates have no where to go but up.
I hope this helps & gives you another angle to consider.

Post: Newbie

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

Welcome Rhondalyn,
I'd recommend starting with a solid education so you get to understand the lingo and terms. Then, find a partner or someone who you can help & gain some experience along the way. Similarly, find someone who compliments you...someone with cash and/or credit. You don't have to have it all but you have to know someone who does. It's a team sport.
Hope that helps.

Post: Northern Cali - 12 unit for 600k?

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11
Tou, I think you've got a decent deal granted no significant further work is required of the property. In general, the 50% & 2% rule in California will be hard to come by at the present time and if someone did find one, it was likely not found online but through relationships, some sort of pocket listing, or seller motivation. By the way, what is the seller's motivation, if any, for selling? Sometimes this may help you get better terms. Any reason for 30% down in particular? Generally, we have to adjust our expectations to the market or housing cycle we are in. Prices are different in every market & at different times. The question is what returns are you willing to accept based on where you choose to invest.

Post: Can I Buy a Property with a mix of SDIRA and non IRA $$$?

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

SDIRA loans are all non recourse loans & would usually require up to 50% down or so.

You can partner with anyone that is a Non prohibited person such as a friend, siblings (vertical lineage relationships like your father or son are prohibited but your brother is allowed), other investors, etc.

Post: Hello from Cleveland Ohio

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

Welcome aboard to BP. The site where the education & growing continues & the fun begins.

Post: investors/mentoring?

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

@Jeremiah Lopez,

Be glad to help. Let me know if any questions.

Post: New member from Milwaukee

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

@Carlton Bynum,

Welcome to BP. You've found the place! Great information & colleagues that facilitates learning & growing.

Post: Duplex or Single-family home?

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

I'd highly recommend against "max out our finances". Should anything go wrong, it always does, you'd put yourself in an bind that you may not be able to get out of. That's what I term, "financial suicide"...bad move.

You always want to have extra cash flow left over at the end of every month to secure and grow your investments. If you don't, you've jeopardized your ability to grow. Recommend to minimize your expenses, leverage reasonably, and grow your investments.

Post: Long overdue success story - BP partnership

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

Great win win partnership. That is the way it should always be.
If anyone has been burned before, they will truly appreciate win win relationships when they fine one, it's gold. Thanks for sharing.

Post: New Member from San Francisco - Interested in Buy & Hold

Leng ThaoPosted
  • Investor
  • Clovis, CA
  • Posts 44
  • Votes 11

Steve,
Welcome to BP.
For out of state investments, one of the most important thing to consider is the team you have in place. That team will make or break you regardless of how well your numbers crunch out. As the saying goes, I'd rather have a good team in a decent market than a decent team in a great market. Many times, investors may pass on a good market due to a lack of a strong and trustworthy team in place. I hope the info was helpful. Welcome on board!