All Forum Posts by: Tae Jang

@Thomas S. Thanks for your input. The cash flow numbers had made me wondering if this is a profitable invest for me, and it looks like I would need to wait for much better deal. I like your last statement.

@Daniel Y. Thanks for pointing out one of the most important factor. Yes I know our soils are very muddy and unstable. When I first moved to Texas I was so surprised we couldn't have basement. I sure will let you know when the time comes. Thanks!

@Kevin Wang

First of all, thank you for taking your time today. It was really nice to hear from a local. I do personally prefer Frisco over Plano due to newer houses. I did, too, was looking for 75035 zip codes, but north side of main street due to my budget. 

@Daniel Y. Thank you for taking your time today. I really appreciate your input. Reason why I started having interest in real estate is that I've been maxing out my 401k and IRA (which have been performing so well since I started working) and I wanted to invest more active way. Anyhow appreciate it!

@Daniel Y. Hi Daniel, my entire family lives here so I don't have a plan to move. Since it'll be my first investment property, I don't have much knowledge about fixing a distressed property so I am not ready to deal with it yet. Maybe for my second property. I did, however, thought about it for a bit.

@Account Closed Thanks for the reply. I am currently looking at Frisco/Plano due to school district. I'll let you know when the time comes.

Hi @Ben Wilkins

It is a SFR, my end goal is to have 4 SFR paid off before I retire. I like my job so I am not planning on quitting.

The houses are built around 2005-2009 so won't need much of work except for normal wear and tear.

The numbers for house values and rental values are at median range, so $700/month minus possible vacancy which I hope to get a cash flow of $5-6k/year (after deducting insurance, HOA, maintenance, etc)

Hello BP, I've been studying, reading books & forums for the past a few months and planning to buy a first investment property before the end of this year.

Area I am looking at is Frisco or Plano Texas where people say hard to find a good deal. I picked Frisco or Plano because it is close to where I live so that I can manage myself and many other advantages.

Houses I am looking at ranges $250-290k which rents $1600-1900/month. Since property values are less than my house, I was told to put 30% down, which leaves me $700/month (I know it won't be the cash flow but just saying). I think the numbers aren't great but not too bad either considering the location and possible influx of population for the next a few years.

I still have a lot to learn but what's your thoughts just by looking at the number?

Thanks for helping out a newbie.

@Mark S. Thank you for your reply. I'll look into REI loans. As a newbie, I still have to listen to more podcast and read more books. I'm sure it will take some time to prepare myself and save money on the way.

@Trevor Ewen

Thanks for taking your time to write a reply. 

1) I have been good with spending money habit. I eat out once a week (I pack my lunches), no cable TV, cell phone bills are below average. I haven't taken vacation for the last 2 years. Only two big bills are my house payment and my bmw.

2) I have done OT a lot when I was saving downpayment for my home, I got burned so much.  First baby is on the way very soon, so once he becomes 1, I will start doing OT again.

After reading Millionaire Next Door, I thought about selling car! It was a great book. I may end up keeping one of my cars instead, in order not to make tradeoff mistake. 

Thanks for your encouragement!