All Forum Posts by: Joseph Vu

Hey Jamie! 

Pleasure to meet you. I am from the Bay Area as well. 10k a month is definitely doable and that is also my goal as well! I just recently started investing this year and so far I own 1 SFH in OKC and currently in the process of closing on another SFH in Indianapolis. I am hoping to venture into multifamily by the end of this year.

I am also in the process of getting an ADU built in my backyard for extra income!

Its awesome that you identified your market already. I dont know much about DFW but you already ahead of the curve by trying to network over there. What is your plan for the DFW area? have you looked into property managers yet?

Hey Annie, I went the turnkey route for more of a hands on approach. Currently closing on my 2nd one this year. After my first TK purchase, i was hooked and started looking at means to increase my ROI.

TK doesnt have the best ROI but so far it has definitely been hands off and passive. I used REI nation and Rent to Retirement. Both are great turnkey companies, but I think REI nation is more of a one stop shop since they also manage the properties for you once you buy.

sounds like you might need to get a lawyer and start the eviction process... sorry to hear...

Put that money to work!

This would only be worth it if you use that equity money to find deals that would cash flow enough to cover the refinance payments as well.

I am currently doing this in California, where I pulled equity out of my house (250K worth of equity) and used it to build an ADU. I owe roughly 1000 a month to pay back the equity loan, but i can rent out my ADU for 2500 a month, netting about 1200 a month with expenses. That is free money!

REI nation is pretty good in terms of a one stop shop. They communicate very well initially but i noticed after i got my first property they stopped sending over available properties compared to when i was looking for my first. Its probably because they are low inventory or the properties dont fit my criteria.

@Darius Ogloza

Do you guys use a commercial loan or a conventional loan for your flips

@Brenden Mitchum

Thanks for all the great info! I’ll connect with you soon!

hi there guys, first time rental property investor here! i have been browsing the forums for quite some time and i have been saving enough along with my cousin to finally purchase our first rental property. We have been looking into the Atlanta and Indianapolis areas mainly to due strong growth and landlord friendly states. We were just looking for local listing agents or anyone that is familiar with the area to assist us with a turn key purchase. Initially, i was just going to check out yelp for agents in the area, but i thought i would try out here first :)

Also anyone with investments in these areas, how have covid19 affected the rental payments on your investments? 

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Hey there guys, my fiance owns half a duplex, while her cousin owns the other half.

We want to move in to our side of the duplex, and since the house is paid off, we want to use a heloc or HE to renovate the duplex before we move in. 

I was reading that it is better to get a HE because of a fixed rate, but are there any other pros and cons? I also read that an HE will affect one's credit score tremendously.