All Forum Posts by: Huy N.

@Kevin Wood,

nothing sweet, it just fit my number: less than 90k after repair with rent in the 1200+ in an ok area (i might be wrong on this as my plants and flowers were stolen!) If things turned out to be ok i might post in the success story 4rum, I think we should have another 4rum section call the Failed Attempt or honor story because i do have some as well :p

This price range is everybody playground. it's gonna be tough and you have to be fast....good luck :D

I just bought one for under 100k in the 249 and beltway 8 area. the moment i saw the deal, i ran the number in 5 mins, turned back my chair and tell my boss i need to get the hell out in the middle of work day, Drive from Energy corridor to there to go see the property - with no time for a detail inspection and decide to bite on it. Then I kidnapped my wholesaler and drove him directly to the bank and give him the deposit check and sign the contract in the bank. 

All happened in 1 hour and a half...

hey @Nick Versetto

 just a quick update on this: The bank will let you refinance out into your name only but your partner have to show up at closing to sign the deed to deed his/her portion of the equity over to you. I'm have other issues with the loan but as far as the part we are talking about. it is doable. I will let u know once everything is done!

I will chime in for my 2 cents as well and disagree with the article. I just went to Austin for the Motor GP event last weekend and i have to say it is an amazing city. I don't think the city over value at all.

@Jake Harris

 Yea, to comment on your post. we stayed using airbnb over the weekend. and the best part is that there was somebody that rent my house over the weekend in Houston so the cost of travel kinda even out :d

@Brandon Turner

Private Money: Borrow 20k as down payment from private investors at 6% interest only for 3 years to purchase a 3/2/2 SFR. Refinance 30k out at year 3, and paid back 20k to private investor

All Cash/ Partnerships: Found a 30k townhouse rented for 725$. scrap all the money from saving to come up with 15k and partner with another investor to make it a 50/50 deal

House Hacking: Recently expose to Airbnb and rented two empty room out. ended up rent 14 out of 31 days in the month of March and net 700$ even.

5.1% is not high in my area. i recently got 4.5% but that's because i have good credit and a good relationship with the banker.  I think of anything below 5% is free money if you handle it properly 

I would love a long lease with good tenants. I even gave them 25$ discount on the monthly amount if they are willing to sign a 2 years lease instead of 1 and send them gift card on thanksgiving!

@Nick Versetto

I'm doing the exact same thing right now with one of my rental i will book mark this thread and keep you posted.

I have good experience with airbnb so far using my own primary resident. This month i netted 700$ even. that basically covered the PITI for the house

you can read more about it here

http://www.biggerpockets.com/blogs/4640/blog_posts...

I took me quite a few booking to get used to having strangers sleeping on the next room. It also took a while to fine tune and tweak your guest criteria to make sure your lifestyle is not compromised.

 Congrat on your 1st offer John. I would make sure you have a plan B incase things go wrong. I completed my 1st two flip last year and one of them i am glad i had a plan B.

http://www.biggerpockets.com/forums/223/topics/131...

http://www.biggerpockets.com/forums/223/topics/164...

Good luck and let me know if you need help with any question