Your Financial Pharmacist YFP Real Estate Investing 112: Getting Out of a Sour Investment
Explore real estate investing highs and lows with Steven Nguyen as he shares about risk management and his experience investing in a mobile home park.
Episode Summary
In this episode of Your Financial Pharmacist Real Estate Investing Podcast, we explore the highs and lows of real estate investing with a seasoned expert. Our guest, Steven Nguyen, PharmD shares key strategies for navigating challenges, emphasizing the critical elements of risk management and scaling. He provides a firsthand account of renovating a 20-unit apartment complex, highlighting the role of hard money lenders and the intricacies of cash-out refinancing in a rapidly evolving market. Steven also candidly shares the lessons learned from owning a mobile home park, offering a rare glimpse into the challenges that arise in this unique sector.
About Today's Guest
Steven Nguyen graduated from pharmacy school in 2013 and has worked as an inpatient pharmacist in California for the first four years and then as a pharmacy director for the last five years. From 2013 to 2017, he focused on paying off over $250,000 in pharmacy school debt, and once paid off, he shifted his focus to real estate. Steven started house-hacking single-family homes for three years, then quickly realized that it wasn't scalable. He transitioned to commercial real estate, focusing on apartment complexes and mobile home parks. Steven started a direct mailing campaign and acquired a 26-unit apartment complex and 200-lot mobile home park in 2021 and a 20-unit apartment complex in 2022. Steven Nguyen is based in California but invests predominantly in Oklahoma and Alabama. Steven has a buy-and-hold philosophy and likes to force appreciation via value add strategies and then execute a cash-out refinance to pull out money tax-free, so he can continue to buy more real estate. Over the past five years, Steven has built a real estate investment portfolio of close to 90 units and was able to scale that portfolio while working full-time as a pharmacy director without any partners.
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