All Forum Posts by: Wade Woo

I am looking for solid people to work with. I am interested in the long term buy and hold and do not have the time/exp to fix, flip, and then rent. would like to find someone we can work together to find deals that need fixing, agree on price that we can refinance to that still lets me cash flow and you get your well deserved check for fixing. I regularly find deals that would work and we can both grow.

-split purchase price expenses and rehab costs

-refi to amount i can still cashflow after paying the bills,

- I leave my 20% in the house and you get paid or be creative and leave 15/5 split and I buy you out over time. lets write it down and make some deals!

My business partner is as solid as they come. We have have long term buy and hold deals in the top markets for SFH. We are looking for people to fund these deals. Let's connect!

0 Votes

Dayton, Ohio

Market demographics is constantly changing over time. What's the top 1% of the market for one niche is probably not going to be the same as the top 1% in another niche unless there is a high correlation between them. There are also different criteria, macro and micro economics involved.

With that said, based on market analysis of SFHs Oklahoma City, Oklahoma is in the top 1% of all markets with the highest return on investment (ROI). I can get into more detail if you would like. Let's connect.

1 Vote

1. Invest in knowledge

2.Save 20% of income for future investments

3. Setup a game plan for generational wealth for you and your family.

0 Votes

Fort Lauderdale, Florida

Quote from @Stephen Totter:

Hey @Joshua D. I joined the REI Accelerator program in May. I'm full-time military and only had about 3-5 hrs a week to give the program. My experience was mostly doing SFH/Duplex/Triplex etc. and had experience in larger multifam. My experience was just as they described. I went from 10 units in May to 70+ currently. I picked up my first syndication using their methodology. I can't say enough about the support I received and the quality of the mentors. I'm not in any way paid by them but I sing their praises all the time. It's been life changing.

Thank you for your service and congrats 👏 on your first syndication.

0 Votes

Pittsburgh, Pennsylvania

Quote from @Joe Villeneuve:

Flip in high cost markets, like California. Then invest with your profits in the Midwest for cash flow. It's done all the time. I've helped many REI's, and partnered with some) do this very thing.

Yes, you may be able to cash flow in Midwest but the best combination of low-priced single family homes in great neighborhoods with better cash flow in growing cities can be found in cities in the SouthEast and South.

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Fresno, California

Quote from @Amy Wei Ru Chang:

Quote from @Becca F.:

@Amy Wei Ru Chang

I invest in the Bay Area and in the Indianapolis metro area. Great job on the Texas property. I agree with Allan, I wouldn't pay cash with that $500k. You'd be tying up a lot of money on one property. I run my numbers using 20% down. I think it's important to have lots of liquid reserves. Do you have a primary residence already or could you house hack?

LA area:

- you have more control being local and can see the property, check on renovations

- I wouldn't buy 2 condos. The HOA fees go up and you have no control. They can also put in rules restricting rentals. I sold a condo here, really wanted to keep it but HOA was badly managed, 4 increases to HOA fee in 2.5 years. Many HOAs won't allow any type of AirBnb.

- Could you buy something within 2 hour drive?

- Maybe consider Mid-term rentals in an area with hospitals or businesses with traveling corporate people - you'll need to furnish it, pay for utilities and WiFi but this is what some Bay Area investors I know that are doing and AirBnb to cash flow.

- landlord tenant laws not favorable in CA. Need to vet your tenants carefully, would recommend a RE attorney to review your lease.

Out of State:

- If you have $500k in capital I personally would go for appreciation: Nevada or Arizona. Those states have low property taxes and I think they're more landlord friendly than CA. Other areas I considered: Nashville, Tennessee and Florida Panhandle (Fort Walton Beach, Navarre Beach). I know a few investors buying in San Antonio (multi=unit) - their numbers work even with high Texas property taxes.

- I can't speak for other Midwest states but in Indianapolis metro area, my property taxes are pretty high 2.77 and 2.78% and the taxes go up with no limit (17% with my last assessment). I'm still positive cash flow on my Class A but just barely with the tax increases. I have 2 Class C homes. If I ever 1031 exchange those I'm looking at Northern CA, Nevada or Arizona.

- OOS investing is challenging. Buying a property based on video tours and pictures isn't the same as seeing it in person, plus all the renovation and repair issues, winter weather issues, hurricanes, etc. Need to have a trusted team to do OOS.

- I would personally rather have a few high quality properties in appreciating areas, fewer roofs, HVAC etc to replace, fewer tenant issues than 50 cheaper units.

Thank you for the feedback! Yes I am considering out of state...but really need to do my homework first as I am only familiar with California. Im saving this post!

I second out-of-state, you want to invest in areas where more people are going in than going out. You should look into investing in Oklahoma City, OK; Greenville, SC; or Memphis, TN. DM me if you would like to discuss this further.

1 Vote

Los Angeles County, California

Quote from @Denise Johnson:

I'm new to the community and am interested in your opinion! I bought a primary property in 2022, which was purchased to house hack. I am now interested in purchasing another rental. The property currently has about 60k in equity. Would you suggest refinancing or saving to purchase my second property?

I would suggest taking out what's called a home equity line of credit and use it to invest in more real estate but make sure that you have a mentor that has done at least 100 times what you are planning to do and follow a strategy that works for you. DM me if you need help finding one.

1 Vote

Richmond, Virginia

Quote from @Erik R Aho:

The thought of buying cash flowing rental properties interests me. However, I'm from Long Island, NY and cash-flowing deals are very hard to find. I'm considering purchasing out of state but don't know which markets I should look out or how to find deals in said markets. I'm 20 years old and have about $105,000 outside of retirement that I'd love to do something with. However I lack the confidence and knowledge to get started. Any tips?

The best way to invest that $105k is to find a mentor who has conducted extensive market research for investing out-of-state. One who has invested millions of their own money to build automated systems in place to the point where all you have to do is put in $50k per house and it doubles every 5 years. I can't self promote, so shoot me a DM if interested to know more.

0 Votes

Quote from @Jason Waldo:

@Nate Sanow

1) purchased at $32,000 no money down mortgage $282/month rent $925/month HOA $196/ management fee $50/month —— total CASHFLOW $397/month

2) purchased $100,000 down payment $5000 rent 1,000/month management $50/month mortgage $656/month ———— total CASHFLOW $294/month

What do you guys think??

Is this both a subject-to deal? If so, what is their interest rate? How long until the mortgage is paid off? What is the growth rate in that area? How old are the roofs and the HVAC systems? What are the taxes and insurances?

0 Votes

Quote from @Levi T.:

Originally posted by @Kenny Kamdoum:

@Levi T.sweet deal man. And I agree, 100 doors at 200+ is much better that 10 doors at 900. I see you also buy MF, how much per door do you get with those type of deals?

Two recent MF deals we did located in NOVA. $840 a door for 10 unit building, and we are doing a little over $300 per door on the 34 unit with capital returned, and debt services on both.

We are fully vertical company. It’s the little things that add up. Im more interested in SF in bulk than MF.. my goal is to buy 100 SF units this year, with the long term goal of 1,000 per year.

How are you able to buy that many SF units per year?

0 Votes

All Forum Posts by: Wade Woo

Wade Woo has started 1 posts and replied 71 times.

Post: long term buy and hold looking to partner with flix and flipper

Post: did you pick your market or did it pick you? All-arounder looking for a market

Post: Investing with Partners

Post: rei accelerator program

Post: Cannot find cash flowing deals in CA

Post: 600k cash...how to allocate in sky high market for investment properties in LA area

Post: Cash out refi to buy new rental?

Post: Looking to get into REI, starting with $140,000.

Post: Average Net Cash Flow ? (Per door)

Post: Average Net Cash Flow ? (Per door)