All Forum Posts by: John Hui

As a recent graduate, I can assure you that college students will pay for year-long leases regardless of the school session. If you have a place that is nearby, convenient, or "luxurious," students will pay for it. 

It sounds like you have a good amount of savings readily available for an investment. From what I've experienced thus far, as I am a beginner myself, there are three things that you must do.

1. Decide what you want to work in, albeit temporarily. Buy and hold to rent out for passive income while maintaining a full-time job was my decision because it would allow me to have steady active income and have something to do on-top of accumulating passive income for when I choose not to work.

2. Understand the numbers, namely what the cap rate means and how to calculate cash flow conservatively. Knowing a good deal between the numbers versus a good sales pitch from a realtor could make the very difference between paying $20k a year and earning $10k a year.

3. Once you've checked off the above two points, look at listings. Filter based on your niche then run the numbers. Once you see great numbers, contact a realtor and schedule a visit to the properties that look promising. You don't need to buy every property you visit, but seeing them provides limitless opportunities to learn.

And a bonus: network with people. This cannot be emphasized enough, yet is not absolutely necessary. It can make a world of difference when you know the right people, ask the right questions, and find great friends.

Best of luck!

From what I understand, the standard commission for agents are 6% of the final purchase price. 1.5% goes to the buyer's agent, 1.5% goes to the seller's agent, and 1.5% goes to each of their respective agencies. 

If you flip with the same agent, he/she earns 1.5% for each transaction.

These are the top deal analyses that I have from the past few days after I started calculating specifics. Could someone please help me spare a glance at how I can optimize these numbers? Any tips would be greatly appreciated, as I am a complete newbie.

11623 Candle Ct Henrico VA #1516458

2720 Old Point Dr, Henrico VA #1513690

Although I am just moving to the area in July, I have heard from multiple sources that say Richmond is developing. I, personally, see great room for growth.

I see the numbers working behind this method, and I have been looking for deals using the BP rental calculator and the 50% rule. However, I haven't been able to get up to more than ~$150/month per unit on the listings I've been looking at.

What are some good ways to start spotting $100k value houses for $50k? 

I have tried to use the county's assessments, but for all the listings I've looked at so far, the assessments have been $10k+ lower than the listing prices...

I have also been looking at the listed property's crime rate, school system, as well as neighboring property prices, but my inexperience doesn't gather much from those numbers.

Dear BP members,

I am a newcomer to investing in general. Growing up in a family with very little income, struggling out of poverty, it dawned upon me to read up on financial matters to avoid wasting my parents' amazing groundwork these past 20 years.

I have been reading up on investing in concept and namely intrigued by the Intelligent Investor, Rich Dad Poor Dad, and I was lucky enough to stumble upon BP.

After reading a bit into the vast amount of information available on the website, I believe my niche, as far as I am aware, is going to be in multifamily homes to start. I intend on being a hybrid investor, as I do have a private lender who is interested in putting in $100,000 for 20% of the profits.

Now my question is, which corporation of ownership would be most ideal for multifamily and small apartment properties? I've been looking at non-stock corporation, but I saw a lot of LLCs on BP so I wanted to gather opinions.

-John