All Forum Posts by: Jimmy Nguyen

I own a rental in Manassas area and I don't get much cash flow. I also just bought a TH in Annandale as a primary resident and I am house hacking to help out with mortgage. When looking at the numbers for NOVA areas, even if you rent/buy a house and rent out all rooms, you'll most likely just break even. It's a tough market. I'm trying to figure out my next move also, I keep my eyes open but it's been def hard. Thinking about looking into Maryland. I'm also wondering what other NOVA investors are doing. I see some potential in big properties in DC but mostly are like 1mil for MF, apartment complexes etc. 

Welcome! I'm from Brooklyn also, well soon to be moving to VA! But yes NYC seems to be hard to crack but I agree with @Bernard Klein you can try to rent out apartments/condos and sublease. I have heard a few success stories of AirBnB in NY and it seems like a good way to grow capital until you can get your 20%. Good luck and I can try to get some info from people who have done it already if you need!

Just signed up! Excited for the event!

That is very odd, i just closed on my house a few weeks ago in VA. You should be able to get the keys at closing and then the title company will record the deed another day. I closed, signed all the papers, got my keys and the title company said they would go to the court the next day to record it and there was no issue. You should not have to wait for the deed to be recorded for you to get your house. Something is off and your real estate agent should have known that.

I'm not sure what you can do about the 3 day of possession, I would really hammer down on your real estate agent though for him to figure it out. He should know the legalities of this. 

@Jacob Sanders This would be interesting to do for cash back cards too, can you essentially get cash back from this? 

I have always thought about this method and after reading this, I am more inclinded to try. I think this is an ideal and safer way to save up money for a downpayment. The only risk/issue I am worried about is not being able to make the minimal payments so I think I will only try to do max 5k at a time. I'm a beginner so I'm trying to be safe. It might take a while to save up a large lump sum but until I learn more tips and tricks, I think this is a good start. 

I have a citi card and they send me checks or have balance transfers offers quite often. 

Some people mentioned that they got reward points off of this, how did it work? I have asked if I get reward points on transfers and they have said no. Is there a way to get around this? I would love free points 

Thanks @marlon wilson

Thanks @Mark Nolan, I'm reading it as we speak!

Thanks @Dmitriy Fomichenko! awesome tips!

Thanks Paul, I just joined a few REIA groups just now on your suggestion! I hope it can be a valuable add.

Now to start reading the books you mentioned!