All Forum Posts by: Jim Chuong

@Cameron Riley I live in Toronto, Canada and during the Great Recession I purchased a number of condos and SFH in Phoenix, AZ

I still have them today

@Vinh Huynh your plan is a good one if you don’t want to go far in RE investing. You’ll just pour $ into this property for a decade or two

@Jian Lin this book helped me launch my RE investing. I went from reading this book by David Lindahl in my 1 bedroom apartment in Toronto, to owning 15 properties in the US and Canada

Good luck on your journey!

I would like to hear people’s thoughts on doing a cash-out refi when an investor has a lot of dead equity

1) at what point would you start thinking about a cash-out refi start. One extreme would be 100% equity and 0% debt but I’m sure people consider it far before this point. What point is that?

2) would you cash-out refi if you don’t have an immediate opportunity? On the one hand, you will have the cash to move quickly if an opportunity appears but on the other hand, your equity is still increasing so you could be pulling out more cash if you did the refi later (remember you don’t have an existing opportunity)

3) any other thoughts appreciated

Thanks

@Andrew M Bickett even though you’re underestimating your expenses, if the neighbourhood is good, it’s not a bad deal IMO

@James Wise how does this happen? Once you send in an inspector, doesn’t the buyer find out about all these issues?

@Mike Griffin I’ve done both successfully, and it’s as similar to eating tasty meal or watching a great movie

Send me a PM and we can chat

The short answer is that they both have pros and cons when it comes to type/strategy, temperament, funding, maintenance/monitoring, cash flow, returns, financing, exit, etc.

Be Successful

@Suly Bolanos

Travel. I’m a Canadian that I owns rentals in AZ and TN and I spend $ to walk property