All Forum Posts by: Hung Nguyen

Troy Gandee thanks for your input. According to the number the agent gave me, the tax right now is around 2,500. Are you saying that it would be upwards of 7,000? I'm not too current on SC real estate laws. I am in San Jose, CA currently, and cannot physically go look at said units. I would be grateful to have eyes of them before I proceed. If you are interested in partnering up or anything since you invest in the area, send me a PM.

Jay Hinrichs I grew up in Myrtle Beach, SC so I know that Charleston is still booming with many colleges in the area along with great tourist attractions. The sudden drop in price also set off a big alarm in my mind. I originally asked if an offer of 350,000 was okay to submit. However, he replied he could, "get them to take 290,000". This seems very fishy since the agent would make more if the price was higher. Is this correct?

Thanks Jay Dewberry for the suggestion. I will look further into it and try to get numbers.

I've been searching the listings an putting out a few offers to get my feet wet. I stumbled across a deal in Charleston for a 5 unit for 480,000 with a cap of 7. The seller rents one unit out to a tenant year round. The other four are rented to students that attend the local military college for 4-5 months during the summer. After expenses, the annual income is around 27,000. The area is a little ways from the actual Charleston town area. The agent just informed me that the seller will take a cash deal of 290,000. I'm still fairly new to this. Can a more experienced investor inform me if this is a potential deal or a dud? Thanks

Hey Nathan. Congratulations on your journey! I know that was an unforgettable experience. I, myself, am a traveler too. I, also, aspire to have the freedom of passive income to travel. Can you tell me a little about how you got started. Such as how your first deal went, and how you've been able to domino-affect your gains. Rich Dad Poor Dad is a great book; I only wish I had read it sooner.

I just started my journey on enhancing my REI education the beginning of this year. I have been reading up on wholesaling, and there is a popular theme of "bird dogging" that I keep running into. While the concept makes sense (paying a certain amount to someone whom finds the deals for you), I still have some unanswered questions.

1. For some advanced wholesalers, how have this been working for you?

2. Should a newbie start off by trying to find leads this way? (Spending a 1-2 thousand dollars in bird dog fees instead of using the money to market via direct mail)

3. The most important question right now: How do I actually get set up with the bird dog strategy? Are there certain resources I can turn to or do professionals use sites like craigslist? If so, what should I put in the description and in which category?

Thanks for reading. I appreciate any and all information. I am just starting out, but I already am enjoying the journey of education.