All Forum Posts by: Wade Woo

I know there's CAP rates, ROI / NOI, 1% rules, but in terms of cold hard dollars, I'd be fascinated to know what you average real life positive cash flow per door is, on average, per month. I'm just asking for my own selfish motivation / inspiration and to dial in a buy and hold strategy. It can be without expenses for simplicity sake. Or included.

Simply put: per rental do you get $100-$500 net cash per month? (Example dollar amount)

I'd prefer SFR examples, because obviously larger apartment deals while really juicy are also at a scale I myself cannot yet reach.

I’m also curious for those who have achieved early FI how many doors it took.

I tried to see if already on a forum but didn’t see it, so thanks in advance if you do respond!

My 3 SFRs avg real numbers:

I get $1075, 871 and 617 each door for a total of $2563 on those doors.

My long term strategy is buy-and-hold, and I Recast every couple of years. I also use Cashflow to invest in more SFHs.

Do you buy-and-hold out-of-state or in-state only?

0 Votes

Quote from @Joe S.:

Quote from @Scott E.:

Great topic. Here are some things I do for my physical health for ideas. Sounds like you're already on the right track Joe.

-I make myself and my wife a fruit and veggie smoothie every morning.

-I "move" 4x per week (Monday, Tuesday, Thursday, Friday). My "moving" consists of half riding my bike, half bodyweight exercises like push ups, pull ups, body squats, planks.

-Go to bed at 10pm every night, wake up at 6am every morning. 8 hrs sleep.

-No soda

-Tons of water (I don't aim for a specific goal here, but I probably drink 120oz per day)

-I take a multivitamin gummy every morning. Not sure if these actually do anything. But they taste good, and I figure they can't hurt.

-If I need to get "fast food" out of convenience, I'll opt for a bowl at chipotle, a sub at Jersey Mikes, stuff like that. No McDonalds or Burger King.

And that's about it. I do enjoy some craft beers in moderation. I do have a few meals per week that are probably not considered "healthy" or whatever. But if you're moving often and you're eating right most of the time, that's good enough for me. Got to enjoy yourself every once in a while.

Getting eight hours sleep is going to be the challenge for me. I don’t know if I could sleep that long, even if I went to bed earlier. Lol.
In the past I woke up a lot in the night. Is there any particular thing that you have found that helps a person sleep deeper and longer?

Yes, exercise and 400 mg of magnesium at night with a meal will help you sleep deeper and longer. Also, break the dependency on carbohydrates by reducing your carb intake by 50g per day for three days. It will probably be a rough three days but well worth the benefits of being independent of carbs.

1 Vote

Quote from @Mischa Turner:

Hey guys,

I'm going to be living stateside after being active duty overseas the past four years with an itch to get into real estate.

Will be in Lawton, Oklahoma for five months (very slim possibility for ~3 years). This market has low equity appreciation, a dearth of multi-family homes, but a stable renter's market. This leaves me with single-family turnkey or BrRR opportunities, which I would most likely convert from primary residence to rental property six months after purchase.

I can use a VA loan to purchase a house here, then use my wife's VA loan to purchase a house in another market a year later if not DTI-restricted. Alternatively, I could hope that my next assignment will be in a better market with more options, maybe lower rates, and more cash on hand.

Should I accept that no market is perfect and get in the game now, or hold out for a year to enter a potentially better market with more capital to invest?

Thanks!

Right now, Oklahoma City, Oklahoma is one of the top cities in the nation in order to invest in real estate. There are more deals than investors. As a newbie it would be wise to have a game plan in place before you start your journey. DM me if interested in getting a personalized game plan.

0 Votes

Oklahoma City, Oklahoma

Quote from @William Stokes:

Hey guys,

I am looking to do some fix and flips in the Oklahoma City area. I am curious to see if anyone is investing in NE OKC I see a lot of properties for sell in this area. Most need quite a bit of work. But it has been my experience that the area is not the greatest area to live. I wouldn't want to live there.

Unfortunately, this is one of the only areas where I can find properties that I think I would be able to afford. Does anyone think it is worth the risk to invest in this area?

Yes, right now Oklahoma City, Oklahoma is one of the top areas in the country for single family homes according to expert data analysis. We are finding more deals than investors in that area.

0 Votes

Oklahoma City, Oklahoma

Quote from @Tyreek King-El:

What's up team, I have a subject to deal that I am working, and I want to make it as comfortable for the seller as possible. This includes allowing the seller to foreclose on myself and my team should we ever fall behind in payments, which we will not. This, I feel, is the least you could do in a subto deal if the loan remains in the seller's name.

However, I'm not exactly sure where to turn to make that happen. Is this necessary, possible? Anyone have experience with objections for subject to deals and how you went about them? Thanks!

What makes this a good deal? Find out what the seller's motivation is to sell.

A subject to deal is to prevent the property to be in foreclosure not to allow the seller to foreclose to you.

Use other people's money and not your own. That way you can scale. There should be a statement in the agreement that states that if you fall behind on any payments that the deed will be returned to the seller. So get a service that will make sure that there are enough funds to be transferred to paying for the seller's mortgage.

What is your exit strategy on this deal, wholesaling, buy and hold, rent with option to buy, etc?

0 Votes

Gilbert, Arizona

Is there a positive cash flow on the Atlantic City property? What are your plans for the credit/loan? You need to show the lender that you are managing your money well with a good positive cash flow. Also if you need more than 70% credit/loan then you are over extending yourself and being over leveraged. You need some cash reserves for emergency situations like for vacancies and repairs. A good rule of thumb for cash reserves is $10k for the first property and $5k for each subsequent properties.

0 Votes

What's your dream after doing REI full time?

0 Votes

Quote from @Hemal Adani:

Hello fellow BP members, I am looking to use a turnkey company to help me rehab and manage property. I am full-time software engineer and investor. My job is 100% work from home and requires little interaction using phone and laptop. I would like to screen company to invest. Anyone can share their experience? Here is what I am looking for.

Name of the company, Location of the property, Any challenges, How to screen them?.

Hey Hemel,
I am a full-time software engineer myself. Unfortunately, I don't get to work from home, 😞.
When looking for a turnkey company you want to look for one with a stellar track record, one that has all aspects of their operation automated, one that is scalable, one that pivots to the best markets for their niche, one with consistently high and predictable return on investment, one that is recession proof.

0 Votes

I here you bro. You can do this! I have the same experience as you sharing my vision to people with a negative, low energy mindset.

0 Votes

Quote from @David O.:

I got a quote for a cash-out refinance for my primary home to take out over $1M cash at a 3.125% interest rate, 30-year fixed. This is much higher than my current interest rate.

However, I do not have a clear purpose for the $1M cash. One idea is to put it all into a fourplex that I own, which has a mortgage of 3.875%. Another idea is to bank it in S&P 500 and wait for the right investment opportunity, such as a housing market crash.

Any suggestions? Should I do the cash-out refinance and foregone my super-low mortgage interest rate? Also after cashing out, my monthly debt payment will be super high which will require me to keep my current job (no early retirement). Thanks!

Make sure that you have a clear game plan and exit strategy before taking out any money to invest. Once you have a clear and solid game plan then it's just a matter of following it. First of all find out where are people migrating to? You can find a lot better positive cash flow properties if you are willing to invest out of state.

0 Votes

San Jose, California

All Forum Posts by: Wade Woo

Wade Woo has started 1 posts and replied 71 times.

Post: Average Net Cash Flow ? (Per door)

Post: Who is investing in their own physical health?

Post: Am I Rushing Into a Purchase??

Post: Investing in Oklahoma City

Post: Help Needed for a Possible SUB2 deal

Post: Investment property HELOC

Post: My 1st full-cycle flip

Post: What are the things to keep in mind when using turnkey company?

Post: Personal Relationships, big visions, and discouragement

Post: should I cash out refinance?