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All Forum Posts by: Huy N.

Huy N. has started 94 posts and replied 468 times.

Dang! Congratulation! Josh

Post: Should get started in REI with a partner or no?

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

I would recommend doing a deal or two 1st before entering any partnership. By doing this, you'll know what to expect and has prior experience to better manage the relationship. Partnership has more moving parts. 

It's like learning to ride a 250cc kawasaki before jumping on to a 1000cc Honda cbr is a better idea than jump straight into the honda

Post: Hi, y'all! Newbie from Houston, TX

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

welcome to the BP community @Niki Jacobs

Post: Any way to get the banks to move faster?

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

my last REO took 9 months. Try to follow up with them every other day.

Good luck!

Post: Analysis tool subscription

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

Interesting. Thanks for the post @Daniel Hsieh. I will check it out - very curious to see how the comps par to our har website

Post: What scares you most about getting started in real estate investment?

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

hiring a wrong contractor and put wrong tenants into property is the thing that scared me the most

Post: what am I doing wrong?

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

yea i don't think 50 will work.. i heard you get 10 response for every 1000 you sent. Out of 10 only 3 are deal or sth like that

Post: When to start an LLC?

Huy N.Posted
  • Houston, TX
  • Posts 481
  • Votes 189

I'm the big fan of LLC until i realize that big bank and insurance agency doesn't like LLC. They will give you a hard time

I would say if you need and still can do 30 years mortgage  then you will need to have it under your personal name - just change the address to the PO box. debt is a form of asset protection already.

If you are longer eligible for the conventional 30 years mortgage and need to go comercial then it's time to put them into LLC. Commercial banks work well with LLC

This is great! 

Originally posted by @Michael Noto:

Nice job on the rehab and the numbers look good as well.

Were you able to get the rehab done for 10k like you planned?

 Yea Michael, fortunately this one is fairly straight forward..except that my newly planted plants and flowers stolen in front of the house! It set me back.... $65! i was so mad but when i think about it now it was pretty funny. i rather have the flowers stolen than the AC condenser lol