All Forum Posts by: Joseph Vu

congrats! im waiting to close on my 2nd rental. I have been trying to get my 3rd one, but inventory is so low! I have been working with a few turnkey companies to no avail. Now I am browsing the MLS, but still no luck.

I was the same way. I was over analyzing everything, and it took forever for me to pull the trigger. I recently closed a property with REI nation this year. The COC was a bit on the lower side, but its been pretty much hands off the last 4 months. Rent is been flowing in with no issues. Granted, i dont think i should see any issues within the first year *knock on wood*.

I believe getting decent cash flow will be harder to obtain with turnkeys with the increase in interest rates. Another issue i have noticed is that inventory is very low. Iv been wanting to buy more turnkey properties from REI nation, but after my first one, their traction slowed down a bit. I been going to other turnkey companies but their supply was also limited. So if you really want to get into real estate, I would def pull the trigger!

i wanted to invest in birmingham as well, but it was hard to find a good property manager. If you find a good one please let me know.

You can def get a 2 bedroom condo and rent out the other one, but you will be getting killed by the HOA... what is your current living situation? with 40k you can get a turnkey rental cash flowing at about 150-200 a month. I just recently closed one two turnkey properties, let me know if you have any questions.

Hey JR, congrats on your purchase! I am trying to get into multifamily properties as well. May i ask you more about your duplex in sac?

I am curious to see how people used their equity to purchase more property, because it is still borrowed money, but typically at a higher rate than a conventional loan, so I would think it would be hard to remain cash flow positive.

Hey all, I currently have a rental property that is currently paid off, with about 650k worth of equity. I hate to have all of this equity just sit here doing nothing, so what kind of strategies would you guys take to make use of the equity? Should I try to get a HELOC or an equity loan?

I would love to purchase more turnkey properties, but it has been extremely difficult to purchase any due to low inventory. This has been common with multiple turnkey companies.

I was thinking of scouring the MLS for properties and renovating them myself, but the thought of trying to manage this out of state would be extremely stressful.

This leads me to trying to flip properties locally. I am from the Bay Area, Ca, so the market here is quite different. What do you guys suggest I do?

 get yourself a good attorney because the police will not be able to help you with anything unless you go through the legal court process. I hope this works out for you! I just bought my first property as well and I hope i dont have any problem tenants... Good luck!

Hey Jonathan, thank you for the response. My family members have decent wages and a lot of cash sitting around, that is why they want to invest along side with me.  They want to be hands off as much as possible, so they will technically be silent partners.

My question is, if a bank wont lend to an LLC without 2 years worth of income history, how do we go about buying property?

may we get the numbers? :) did you buy this through a turnkey? or did you purchase it through an agent and you are self managing it?

also, congrats! i just recently bought my first property as well. Very exciting.