All Forum Posts by: Jenny Li

@Joe Villeneuve I was thinking of the same thing that equity is sitting there doing nothing. I recently refi-ed Rental#1 that has some equity on it, took cash out to down pay another house which will be Rental #2. Now Rental#2 is also rented. This is my baby step to scale. Hope it works out as I planned.

I have a doctorate degree in computing science. A few rentals, still a newbie. Wanting to buy more properties but coming up with the down payment is hard. I haven’t done a brrrr yet. I haven’t bought a piece of land yet. If anyone has good opportunity and is interested in partnering, let me know. 

Nice letter and thanks for sharing. I probably won't initiate a letter/email like this to them because I don't want them to consider not paying rent as an option. Rent is probably the biggest expense of any household. Maybe wait until they don't pay rent, then reach out to them to find out what's going on first. 

Amazing and inspiring story! Thank you for sharing. 

Thanks @Igor S. I plan to be there unless last minute conflict. 

Hi. I’m Jenny. I’m new here. I’m wondering if there is a Raleigh NC meetup this month? I would love to join. I thought I saw something in the discussions but I couldn’t find it.

@Dillon Tinlin just curious, can you share your dad’s patent? Maybe he can sell others licenses to use his patent if there is a market, just a thought. I have a lot of patents too, unfortunately I don’t own any since they were all created for the company that I work for. Wish I have freedom like your dad to implement any of my patents, I would be so rich by now LOL. 

Back to the investment, you could buy a house with FHA loan. That's how I got started. I bought my first tiny 1 bedroom for 130k, 3% down for FHA which was $3900. I only had $3000 and borrowed $1000 from family. I didn't have money to close, so I borrowed the closing as well and added that to the loan. The market was booming back then. I sold it for 198k with just living there for two years. I took the profit and down paid a bigger house. Something I just learned is that the next house you buy, you can put as little as 5% down. Then you live there for 18 months or so, you can turn it into a rental, then you go buy another house as your primary residence with another 5% down. The only catch is that you would buy a house that is of higher value than the previous house with this 5% down strategy.

@Account Closed No, I didn't set up any LLC.

Congrats! You bought a out of state multifamily as your first rental, very brave. Sounds like you haven't seen the property in person, that was so awesome.

Congrats Michael! This is so awesome. Thank you for breaking down the numbers. This is very encouraging. I was thinking of doing my first BRRRR. I haven't found a property yet. I was scared to take on a big rehab project since I'm not handy and have no clue.