All Forum Posts by: Tony Nguyen

Brant - have you done any marketing yourself? What is your fav type?

Tony - nice name. my challenge is limited inventory. Your suggestion is expanding my market which is smart. I'm going to do this. thanks for your advice!

Kevin - when i expand my radius, of course it's not going to be 50 miles out. Maybe in different cities. Since you're from the area, I'll tell you that I'll consider Kissimmee to maybe sanford.

James - when you say you manage your website, what kind of website is it? Is it similar to a webuyhouse.com website?

Brooks - i know what you mean. This may sound cheesy, but about 18 months ago, I started something called my DAC - daily action checklist. From the first minute of working, i'd knock out all my task on the DAC (which includes calls and emails), I would then revert to Growth Activites. This let my mind rest knowing all the pressing issues have been completed which means I can focus on Growth. After a few weeks, it became a habit which I still do today. Good luck.

Correct. Even with owner occupied purchases, I've seen the restrictions set @ 1 year.

shorts sales are definitely a great source too, but man, they take so long to get approved that by the time it happens, all the numbers change and can kill the deal. But good though, I'll add that.

Ryan - where are you looking for your deals?

Lol same here that's why I posted this. I set myself up the same, to put all my time into finding more deals.

I'm only looking on the mls though. Is that where youre getting your deals from J? So what else do you do to stay productive when you've got no more deals to review?

letter or blank hallmark card works well. they get opened and read, but you might not always get the call back.

something else you can try is a card on the front door.

hey,

what are you guys doing to stay busy? The busiest time of my work is when we have projects that we're working on, but even then it's not THAT busy. I hire the contractors to do all the work and all I do is go pick out the items @ Home Depot and stop by 2-3 times per week to make sure things are going as planned. An issue could be we don't have many projects we're working on. We had 3 close out last month and currently just have 1 under contract to sell and 1 under rehab.

On a daily bases, I'm screening 10-30 properties a day to see if it's worth offering on or not. A little admin work and I'm free as a bird. This is a personal thing, but I hate having time on my hands.

The only other thing I try to do in my free time to stay productive is being up to date by reading on sites like this and books. Something else I'm debating if it's worth doing or not is calling other Brokers about their listings so I can be considered their "hot" lead so they can call me when new listings of theirs pop up. I guess it's a form of networking to me. I have MLS access already since I'm licensed so I don't do that. Maybe that's one of the missing pieces to my puzzle.

Anyway, any input would be appreciated - thanks!!

Mark, i'm 26 and started a little bit younger than you. Having cash to back you up isn't completely necessary but it sure does make things easier. To help me launch, especially with the buy and holds, I flipped a few properties first to really build that nest egg. In order to do that, contact a few hard money lenders to see how much they charge and their terms. You'll be surprised at how much leverage you can get and how fast the money will be rolling in after just 1-3 good flips. Lastly, of course, be cautious!

Oracle - i actually do not have an est for repairs yet but I will in a few weeks. Sale is contingent upon the sellers divorce so waiting for that to clean before walking through all units, putting time and money into inspection, etc.

MAx - thanks for the info. I will be looking for ways to make high value work to be able to justify the raise of rents. I'll most likely post on here to see what other recommend! I am going to be extra cautious of the deferred maintenance due to the year built but here is some additional info from the seller recently;

Year of roof updated: 2002
Year of plumbing updated: 2004
Year of electrical updated: 2005
Year of a/c system updated: Window units - replaced as needed - 7 units have units less than 4 years old.

Fantasm - thanks for the confidence in the property! Makes me feel even better about buying it! lol I used to live in LA as well and used to love seeing numbers of properties like this one here in FL. It's TOUGH to find these kinds of numbers in LA, or at least for me it was. Also, believe it or not, the way I found this deal was just from actively participating in conversations here on BP. A BP member messaged me about this property and I jumped at it immediately. However if I do find something good, which is possible since I'm always looking, I can definitely give you a shout.

Douglas - see this thread.

http://www.biggerpockets.com/forums/52/topics/18371-help-me-understand-this-deal-and-5-2-rule

Max & Phil - will reply later thanks for your analyses.