All Forum Posts by: Lan Nguyen

hey @Chris Mason and @Samantha Klein , thanks much for your insight, I never know this is consider a mortgage fraud situation. I only thought that if you own the property, you have an option to claim it as a primary residence, thereby asking this naive question.

But now I know, thanks you guys, I would never do this. 

@Chris T. thanks for your advice, yes for sure I will do it right.

@Patrick Desjardins sorry i did not know that it is a no no thing, I am not cheating the system, or trying to. I am asking the question is it possible and is it worth it.  If it is bad then I wont do it. But I do appreciate your comment, I will keep this in mind the next time I post something. 

I am new and I am seeking for advice.  Just want to be the honest guy, ask the stupid question, and do it the right way. 

Hi BP,

I am thinking of purchasing my first multi-property for rentals. 

Is it possible to claim the property and my primary residence without living inside the property, maybe just asking tenant if I can use the address?

I will have to run back and forth for the mail, but then I will be able to receive the primary property return ~ 7K in California. 

Is this recommended, should I trust tenant to hold on to my mails, or it is not worth at all? 

Note: I can't house hack because the location doesn't fit into my need.

@John Leavelle you can't edit after 15 minutes of posting the post, or maybe I don't know how. I looked everywhere in my profile/dashboard, I can't find where I can edit my post. 

Thank @John Leavelle and @Michaela G., ill make a separate post with the above question + information. The forums doesn't allow post deletion so I can't do anything to the above post. Interesting that we don't have such feature.  

Hi BP,

I am looking out for my first deal to start my house hacking and rental property investment in Southern California. I am very new in the industry so please comment alot , I want to learn.

I came across this deal and the price, the number of units, and the location seem to fit what I need.

https://www.redfin.com/CA/Baldwin-Park/12877-Salis...

This is a multiple family property with 2 units, in which I want to house hack the back house and rent the front house. Not sure if it is a house hack if I have to pay out of pocket every months for half of the mortgage. 

The pro : 

• checked it out the house, like it (7.5 out of 10), still need to do some work on front unit
• see the potential of expanding it, since 12000 sq 
• good school around, and quite neighbors 

The cons:

• the power line is right in the back
• the is a huge power connector in front of the house
• dead end of the drive way
• hard to sell I presume
• hard to get tenant because of the power line

Anyone think this is a good investment property, and what do you think about the power line.

Thanks much,

I agree @Mike Cumbie and @Account Closed, and thank you for your advises. It is extremely unethical and risky for not having someone to represent you. 

Seem like it is not a clean way, especially in a hot market, but still people would do whatever it take to get the property.  

Yeah, I will stick to my agent, be loyal and trusted, integrity will build a long and stable relationship. :)

I am a newbie to real estate investing, and I would like to ask what are your thoughts regarding making a direct deal with Seller Agent.

As I know there is usually a 6% commission, which usually split between Seller Agent(SA) and Buyer Agent (BA), however if there are 5 offers that are approximately same, but 1 is dealing direct, logically the SA would want to deal direct because he would take all 6% .

So is this legal to have the SA represent both seller and investor, what would be the pro and cons of using the BA in this scenario, and what is recommended?

Hi @Jailen Holt, I will absolutely check the book out asap. Thank you for the information, there is lots to learn but know I can do this :). Best wishes to you too. 

Hello BiggerPockets community, 

My name is Lan Nguyen, I am 25 years old. For the past 5 years I have always been wanting to become a real estate investor. But I always find reasons to back out. I have try multiple kinds of investing such as stock, option, and commodity (specifically gold). However, I always invest in a conservative way and keep being afraid of losing money.

I found investing in real estate that suits my investing style, but I always make excuse and avoid learning it. I just came back from a long and far vacation, I have learn many things and the trip has completely changed the way I think.  I said to myself: I don't want to live the past life anymore, I don't want to keep afraid of losing money, or work for money the rest of my life. I now know that I am a newbie with no experience. And I believe this place can give me the resources that I need to pursue my real estate investment and become a successful investor. 

I am reading Brandon Turner book on real estate rental investment and am excited to start the journey. I came across couple podcasts and am astounded by how smart people are, here at BP. I hope everyone will welcome me and I am grateful to become a member at BP. Thank you and looking forward to connect with you all. Sincerely.