All Forum Posts by: Thai Tang

@Sterling White

@mike garrison

@Faisal Sami

Thanks for your inputs guys. 

This was a hypothetical question, I was just wondering if there were other valuation aspects from others investors that it would make sense. I think it's safe to say it is not a good... at all.

@Joe Villeneuve

Thanks for the insight, I'll keep looking for alternatives.

@Colleen F.

thank you for the advice

Good morning fellow BPers, so I'm a new to REI and have been looking for investment SFHs in Sacramento, Ca for the past few months between $230k-$280k. So I'm using the rental property calculator and I'm not getting positive cash flow unless the down payment is 30-40%, respectively.

Example @ 20% down

Example @ 40% down

So, even knowing I'll have -$182/month cash flow if I only put 20% down, am I crazy to still buy the property? 

I figure if there is a $50k difference in the down payment, I can put aside $10k for the property and use the remainder toward the purchase of another property. Technically if I have -$182/month cash flow but I have $10k aside then I should be covered for future repairs and maintenance.... right?

I'm not trying to buy for appreciation in the future nor am I looking for immediate passive income, what my goal is to have passive income 15 years from now for that reason alone I feel like this is a viable route for me, as far as the numbers go. 

Am I being crazy or just plain ignorant? 

Thanks for your feedback

Thai Tang

@James Miller I have a basic understanding of what the tax benefits are between the classes of corporations and I'll look more into the manager managed vs member managed, my current company is set as manager managed LLC. I think I can come up with a list of questions from your feedback. Thank you

@Stephen Haynes thanks for tip, that is the first time I've heard of his name

Good afternoon BPers, I'm searching for an attorney in Sacramento to set up LLCs for rental properties, rental contracts, review contracts and I'm also looking for a tax attorney, to be honest I'm not exactly sure for what. So, before I go face to face with these individuals and sound like a babbling idiot, I'd like to be prepared of what I should be asking them, what should be expected of their service, and any thing else you'd ask your attorneys. 

As always I appreciate your help in advance

Hi everyone, I had made an account on biggerpockets back in 2008 and started research to get into the real estate market. I shopped around for a few houses in the Sacramento area for single family homes but I found it was at, that time, very hard to buy investment property because there were a lot of cash buyers. So, there was another opportunity that presented itself and I haven't looked back... until know I guess. 

At this point in time I am looking to buy and hold on to a few properties to contribute to my retirement. I plan on buying 2 single family homes in the Sacramento area after tax season next year and build on it from that, I don't think having 5 properties is out of the realm of possibilities.

For anyone that is reading this, good luck on all your ventures!

Welcome! I hope you will soak in as much information as I have, for being on here for only a couple of weeks I've gotten information that would have taken me who knows how long if I was on my own.

GOOD LUCK

- Thai Tang

well... I feel kind of dumb haha

Thank you

- Thai Tang

Kirk, you are full of awesome.

- Thai Tang