All Forum Posts by: Vi Tran

My basement is above ground level, plus it zone in a commercial district. My buddy told me last night I can just rent out the space and let the tenant do the renovation. They can turn it to a CPA office, Dental office or medical office.

Have anyone of you try to do this before? I can offer to give them a rental discount up to a year. I hate to see the big space go to waste (at least 3000 sq ft)

In addition, where can list of rental pricing around my area?

btw Chris, i forgot to answer your question. The property is on west chester pike and is a blk from darby road (border of havertown and UD)

Anyone know the rule in purchasing a property in Vietnam? My dad is retiring soon. My siblings and I thinking about purchasing a home in our motherland for his retirement?

We are all US Citizen now so i don't know will that prevent us from purchasing a real estate.

It’s definitely a great and stressful experience.

I could of purchase this properties for $175K as an REO back in 2006, but I was dealing with an inexperience mortgage broker and she can't get my loan approval b/c she said there no stoves in all 3 units.

Then last year I saw the properties went back on the market for $200K. My first initial was 185K, she countered with 197K and she end selling the properties to be at 193K. She absolutely did no works on the place at all. I did all the rehab (20K) and end with the township getting the U&O.

I end up renting the first 2 units to friends and living in the 3rd unit. The rental help cover my mortgage ($150 surplus) and I use my salary to paid off all my bills and personal loan from my brother. These last 6 months I was living off roman noodle.

I have been dealing with a lot of stress since the home has been vacant for 2 years and nothing is working right.

Overall, it was a stressful experience but hey, you have to put in work if you want to be successful. I am finally going have a positive cash flow this month and I am trying to save up for my second home with my brother.

One question for you guys, Should I re –appraisal the properties and try to get ride of the PMI? I saw on Zillow my property is actually worth 258K, how accurate is that site? I need it to be appraised at 268K in order to own 22% of equity to get ride of the PMI.

-Vi

PS please excuse my bad grammar.

Hi Fellas,

My name is Vi and im new to the forum. I am a full time accountant.

I just started real estate investment this year by purchasing a tri-plex and become a landlord in upper darby, PA.

I found alot of good info on this board. Just wanna come in and introduct myself.