All Forum Posts by: Joe Au

I don't, but when I went to one of the local REI meeting. PMI property management is one of the speaker at the panel.

Is there a such thing as good debt?

If I have to categorize debt, I would say the debt I am paying for, it's bad debt. A debt someone else is paying for, it's good debt.

Which means, if I have a mortgage on my house and I am paying for it. It's a bad debt. 

Thought?

In my area, the cap rate is around 5% and cash on cash is less than 10%. Even if I want the deal, the investors are not looking for low return like that.

Everything is negotiable. Of course, it would be better for you to have less cash up front. But the seller might not accept it. You should have some numbers that works for you. Maybe just mention seller financing and see if she would consider it. 

Did she still have mortgage on it? If not, seller financing could be an option.

I just closed a refi on my property and the value increased 20% over 2 and a half year. So depending on you city, 20% sounds about right.

Great job @Andrew Dean! It's not easy to thrive in a hot market.

BP is a great place to start, you can always find someone to answer the questions you might have.

Thanks @Leslie Pappas, But I am looking for hands on investment projects at the moment.

Use the BP calculator to analyze some deals, you should able to see a pattern for your market. Like the cash flow per unit, cash on cash rate and cap rate, etc...

BRRRR is good, but there are a few moving pieces. You need a great deal from MLS or wholesaler, you have to finance it (portfolio lender, private lender, hard money). Then you have to find a decent contractor to fix it up. Find a renter, manage and maintain the property. And finally refinance to have a better rate. It really touching most of the parts of residential real estate investment. It's a great way to expand your network and build a great team around you.