Thach Nguyen’s journey is nothing short of inspiring. Born in Vietnam during the chaos of the war, his family fled to the U.S. in 1975 with just $100 and hope.
“We lived in military barracks before a generous volunteer gave us a fresh start,” he told PropertyRadar.
Fast forward to today, Thach Nguyen is a leading voice in real estate and the CEO and Founder of Thach Real Estate Group, based in Seattle. Over his 25 years in the industry, he’s helped more than 1,200 families achieve their American Dream.
As a seasoned investor, developer, and mentor, Thach is known for his no-nonsense approach to success and his passion for motivating others to chase their goals and dreams.
But that wasn’t always the case.
“When I started at 21, I didn’t close a deal for three years,” he admits. But after hearing, “You’ve got to get listings. Control the listings, and you control the buyers,” he knocked on 100 doors daily to jumpstart his career.
The real turning point? A mentor’s advice: “You can get rich selling real estate, but you can only get wealthy owning it.”
Thach took it to heart, mastering strategies like the BRRRR method — Buy, Rehab, Rent, Refinance, Repeat — a proven approach to building wealth through rental properties.
He also found creative ways to double cash flow, like adding accessory dwelling units (ADUs). “In Seattle, ADUs now get separate parcel numbers — total game changer,” he says.
Now, Thach is sharing his proven system for finding rental properties.
His advice? “Don’t fear interest rates. Focus on deals that make sense, add value, and remember—you’re just dating the rate.”
Watch the full episode:
If you’re ready to level up, Thach’s insights will show you how.
In this guide, we’ll cover:
Alright, let’s smash a few daydreams…
You know that fantasy of scoring some freshly painted, picture-perfect rental, putting your feet up while the rent money streams in — and just like that, you’re a real estate tycoon?
It’s cute until your bank account flatlines after your first “turnkey” property.
Listen to Thach: “When I first started, I bought ready-to-go rental properties. The problem is, if you only make a little money, your cash gets tied up fast, and before you know it, you’re stuck asking friends and family for extra cash just to keep going.”
Translation? You can’t really grow when your whole plan is just ‘buy one, then pray you find money for the next.
But this is where things start to get better… introducing the BRRRR strategy (no, not Aaron from Hamilton).
Think of it like Monopoly — but one where you actually have to sweat for every hotel you build. Here’s the game plan: Buy, Rehab, Rent, Refinance, Repeat…AKA the BRRRR strategy.
Meaning…
You find the fixer-uppers — the houses everyone else crosses the street to avoid — and get to work. Prioritize fixing things like the plumbing nightmares, maybe even tack on a whole new room, and tackle some of those cosmetic issues (paint, molding, etc.).
Now your newest investment has rent-paying tenants. Then what? You head to the bank and say, “Check out my masterpiece!” — and refinance to get your original down payment back.
Here’s where Thach’s advice gets real: “I don’t take out extra equity from the property. I only get back the original down payment I put in. That’s what makes me different.”
“Other people try to pull out as much money as possible because they don’t have steady income to keep investing, “ he added. “I just want my initial down payment back so I can use it again and keep repeating the process.”
In other words: don’t strip your investment bone-dry, just get your seed money back and roll it into the next wild project. Keep that capital working overtime.
Now if you want to double your cash flow — like, actually double it and not just pocket some extra lunch money — you need to get obsessed with “value add.”
Forget about fancy backsplashes and Instagrammable wallpaper. You want real value? Think bigger. Carve out new rental space by converting that basement graveyard or dormant garage.
Better yet, slap an ADU (Accessory Dwelling Unit) in the backyard — a cute little cottage or whatever fits — because two income streams are better than one.
“When I started adding ADUs to the backyard, I bought one property and ended up with two properties. So I was able to scale even faster,” Thach said.
You’re basically pulling a rabbit out of a hat — one house, now two rentals. You boost your rent, your property value shoots up, and you’re spinning that same chunk of cash through the system, again and again and again.
This is not chill, passive investing. This is elbow grease, weird smells, ugly wallpaper, and late-night contractor calls.
But if you can wring opportunity out of a sad house, the BRRRR strategy will turn those lemons into a rental empire — on the same pile of cash you started with.
That’s how you build something that keeps snowballing, while everyone else is still begging their relatives to co-sign.
Now let’s expand on the ADUs concept…
Rather than settling for a dull property and passively waiting for your investment to crawl, you seek out lots brimming with untapped potential.
Not just any lot, but a chunky, 5,000-square-foot beast with enough breathing room out back — corner lot? Jackpot. Alley access? Sweet. A driveway stretching to a hidden patch? That’ll do.
Why settle for a sad, single income when you can Frankenstein a house into a cash-cranking, multi-unit monster by adding ADUs?
The best markets are essentially setting up the ADU home run for you. Seattle, the vast, sun-soaked sprawl of California, Denver, Tampa, Vegas, Orlando, Miami, Arizona, Oregon — the list keeps growing.
Thach breaks it down: “Back in December, Seattle had a big meeting. It’s the only city right now that gives ADUs their own separate ID number. That means you can actually sell an ADU like its own house — and that’s a real breakthrough. Now, all over the U.S., places are starting to allow ADUs to boost housing density.”
But don’t stop at a single ADU…
You can buy a house and, instead of adding just one ADU in the back, you can add multiple. By the time you’re done, you could have three or four units total on a single lot. Forget one-and-done — think Hydra, growing heads with every dollar you invest in construction.
The famous “1% rule” — the idea that your monthly rent should be at least 1% of the property’s purchase price — often feels like an impossible standard to hit in pricey cities.
In many hot markets, the cost of buying and maintaining a rental property outpaces what you can realistically charge in rent, making it tough to turn a solid profit.
But ADUs shake up this equation entirely. By adding these extra units, you’re not just renting out one space — you’re creating multiple income streams on the same property. This can dramatically improve your overall cash flow and return on investment.
Thach breaks it down with some real numbers: In Seattle, building a thousand-square-foot ADU costs roughly $350 per square foot — which is comparable to California’s high construction costs. That means your build might run around $350,000.
The surprising part? You can rent that ADU out for $3,500 to $4,000 a month. This rent-to-cost ratio actually meets or exceeds the 1% rule, which is rare for such expensive areas.
Doing the math, even after paying for construction, property management, and upkeep, the rental income covers the investment well. This flips the typical expensive-city rental model on its head, where traditional rentals often struggle to break even or generate profit.
So, instead of getting stuck with properties that bleed cash, ADUs let you build value and steady income — even in cities where rents and property prices are sky-high. It’s a way to make the numbers work when regular rental properties just won’t cut it.
With the right lot — and enough vision — you can double, triple, or even quadruple your cash flow. Every extra unit means a new rent check, new appreciation, and new opportunities.
You’re not just collecting rent — you’re printing money, multiplying options, and staying ahead of everyone still chasing “normal” rentals.
Finding the right property and seller isn’t about casually scrolling through Zillow or picking a house just because it looks nice.
If you’re serious about building wealth, you need to focus on properties that offer real potential — places where you can increase value or add rental income over time.
Skip the shiny, move-in-ready homes that look great on Instagram. Instead, focus on older homes sitting on big lots (5,000 square feet or more).
These homes often come with more space to build on, and city rules may allow you to add rental units. Older houses — the kind that have been around since the disco era — tend to come with larger lots and more chances for upgrades like adding extra units.
For sellers, look for homeowners who’ve been in their property for at least 30 years and have built up a lot of equity. Ideally, they own the property outright or have at least 50% equity.
These sellers might be more motivated to sell because they’ve likely moved on or want to simplify their lives. Think beyond absentee landlords; long-time homeowners can be great opportunities too.
When it comes to neighborhoods, avoid the extremes. Skip the super-expensive “A” areas where profits are slim and avoid “D” areas with high crime and constant headaches.
Focus on “B” and “C” neighborhoods instead. These are affordable areas with steady renters, reliable cash flow, and properties priced at levels that make sense for long-term investing.
Thach puts it simply: “The B and C neighborhoods are where you’ll find rentals that work for long-term cash flow.”
When picking a property, aim for homes with at least two bedrooms and one bathroom, which tend to attract more renters, and over 1,000 square feet.
Look for houses that are 25–30 years old or older. Corner lots or properties with alley access are especially valuable because they offer extra space for accessory dwelling units (ADUs).
These extra rental units can significantly boost your income over time.
With PropertyRadar, finding the right properties becomes a straightforward process. Instead of wasting time on endless searches, you can focus on properties that meet your exact needs.
Looking for large lots ideal for adding ADUs? Done.
Interested in older homes with untapped potential? That’s covered too. You can even filter for owners who’ve held onto their properties for decades and have significant equity — exactly the kind of seller who might be open to a deal.
The platform helps you focus on B and C neighborhoods — avoiding overpriced upscale areas and risky markets — where rental demand is strong and your investment stands a better chance to grow.
PropertyRadar’s tools help you focus on properties with key features, like corner lots, alley access, or oversized yards that offer room for future development.
Add filters for equity levels, ownership length, and other criteria, and you’ll quickly narrow down a list of properties that fit your strategy.
You can also use its neighborhood insights to spot trends and identify opportunities others might miss.
Want to know if a particular area supports ADUs or has strong rental demand? PropertyRadar provides the data you need to make informed decisions while saving time and effort.
If you think great real estate deals just fall into your lap because you signed up for a few email alerts and wore your lucky socks to an open house, you might as well buy a lottery ticket and cross your fingers.
Instead, if you want to actually build wealth, you’ve got to turn yourself into a relentless, multi-channel deal-hunting machine — a one-person SWAT team, army, and social media town crier all at once.
Here’s how.
Let’s start with cold calling…
This isn’t about just dialing numbers randomly or stumbling through a script half-heartedly. It’s about being deliberate and focused.
Either you pick up the phone yourself or hire a virtual assistant (VA) to handle the calls, but the key is persistence and precision.
Cold calling lets you talk straight to property owners who aren’t even thinking about putting their homes on the market yet. It’s a way to find motivated sellers before anyone else knows about the deal, giving you a real leg up on buyers who only look at listings.
The real skill is in targeting: building a list of homeowners who meet your criteria — like long-term owners with high equity — and methodically working through that list.
Once you’ve started, the work doesn’t stop. You keep calling until you’ve exhausted every lead. This high-volume, focused effort burns up the phone lines and maximizes your chances of finding deals others miss.
Cold calling may be the top tool, but text messaging comes in a close second for outreach effectiveness.
People are often more receptive to a quick, casual text than a phone call, especially during busy or inconvenient moments like commuting or running errands.
With texts, you can deliver a simple message that grabs attention without demanding immediate engagement. Whether it’s a brief introduction or a quick question, texts make it easier to start conversations with sellers who might otherwise ignore calls.
This flexibility allows you to reach people “wherever they’re hiding” — whether that’s at home, at work, or even in the dentist’s chair.
Plus, text messaging lets you scale your outreach efficiently. Automating or scheduling batches of messages can cover large areas quickly, while still feeling personal enough to encourage replies.
Though it takes more time and effort, door knocking remains a valuable method, especially when combined with phone and text campaigns.
Thach still uses this tactic himself, choosing a specific neighborhood or zip code and personally knocking on around 50 doors.
Face-to-face contact builds trust in ways digital communication can’t. When you meet sellers in person, you create a memorable connection that helps you stand out from other buyers. This approach is especially useful in tight-knit communities or areas where word of mouth matters.
Door knocking can uncover sellers who are hesitant to answer calls or ignore texts. It also sends a message to neighbors that you’re serious and local, potentially leading to referrals or future opportunities.
Cold calls, texts, and door knocks are essential, but they need to be backed by smart preparation.
This means building detailed lists of distressed or motivated sellers using property data and public records. Look for homes with large yards, properties zoned for accessory dwelling units (ADUs), or owners who’ve held their homes for decades.
The shotgun approach — reaching out blindly to anyone who might be interested—is outdated and inefficient.
Instead, be strategic: use data to identify sellers most likely to be motivated and properties with the best potential for upgrades and cash flow. This focused method saves time, postage, and money, and delivers better results.
If you feel overwhelmed by the volume of outreach needed, remember: you don’t have to do it all yourself.
Hiring virtual assistants or a team can help you manage calls, research, and follow-ups, multiplying your impact without burning you out.
If you aren’t ruthlessly running your numbers and squeezing every last drop of value from your investment deals, real estate will chew you up and spit you out in a puddle of regret and overdraft fees.
This game isn’t for anyone hoping to coast through by buying whatever looks “cute” and hoping for the best. You have to go in with eyes wide open and calculators blazing, especially now that banks are getting stingier.
Where you used to snag a fat 80% loan-to-value, “they’re only giving you 70% loan-to-value now” Thach said.
That’s why it’s important to make sure you buy property where you can create 25–30% more in equity in the deal.
So how do you pull off this financial acrobatics — where do the magical 25–30% equity gains come from? Not from manifesting good vibes, that’s for sure.
The secret is pounding away at properties where you can add value and — my favorite buzzphrase — force value.
“The question is, how do you achieve 25–30% equity gains? Thach said. “It’s by buying homes where you can add value and force value. With the ADU strategy, you can add a second structure in the backyard or even convert a garage into livable space…”
You’re not just mopping the floors and painting a wall; you’re attacking the property, reimagining every square foot — finish the basement, stack bedrooms, slap a bathroom in the attic, heck, bulldoze the lawn and pop a full new house in the backyard.
In high-cost areas like California, Thach explained, “A 500-square-foot garage conversion costing about $150,000 can rent for $2,300, which is more than 1%.” That’s not just an upgrade — it’s a savvy strategy that beats the market’s typically low yields.
If all this lingo makes your head spin — let’s lock it down: adding value is about upgrading what already exists (remodeling, modernizing, making a house less embarrassingly ugly), but forcing value is the next-level move.
“Forcing value is when you add more bedrooms, bathrooms or even more units,” Thach said.
Think conversion jobs: basements, garages, accessory dwellings. Every new bedroom is another $500–$1,000 a month; every new unit is another stream of rent, every single month, forever.
Why be so obsessed? Because the ability to add value (and, let’s be real, force value) is what lets you win the refinance game, even when rates are insane.
If the market — bless its heart — is only letting you pull 70% of the new appraised value, you need the property to stack 25–30% equity on top of your original buy + repair costs.
If you don’t? You’re stuck, juggling debt and lost opportunities until you finally cave and text your cousin about “an exciting investment opportunity.” And nobody wants to be that desperate.
Oh, and if you’ve convinced yourself it can’t work in the “priciest” markets…stop. ADUs are your get-out-of-jail-free card in these cities.
The numbers don’t lie: build cost vs. rent has to hit the 1% rule (rent per month ≥ 1% of the all-in cost).
So if you’re dropping $150K on a garage remodel and getting $2,300 in rent? That’s more than 1%! Do that a few times and suddenly your boring four-walls-box is printing cash like it’s the Federal Reserve.
In places where “traditional” rentals never get close to covering the mortgage, this math is a game-changer.
So get ruthless: hunt only for deals where you can force that extra 25–30% equity, always, and keep your eye fixed on squeezing more bedrooms, bathrooms, and rental units into every deal.
That’s not dreaming — that’s how real estate wealth actually multiplies while everyone else is stuck running on the low-yield hamster wheel.
If you’re sitting on the sidelines, arms folded, waiting for some magical “perfect” interest rate to show up before you pounce on a property, you’ll blink and realize every real deal got snatched while you procrastinated.
Let’s channel Thach for a second: “Don’t be intimidated by the interest rate. Look for the deal that, if the numbers make sense, who cares about the rate? We’re not married, we’re just dating it temporarily… Marry the house, date the rate.”
Yeah, read that again.
You’re not locking arms with 7% forever like it’s your soulmate; you’re just casually dating until something better comes along.
The property — that’s your long-term commitment. Rates? They change like seasons and styles. If you’re sweating those numbers more than the deal itself, you’re absolutely playing yourself.
Here’s a wake-up slap: banks used to hand out generous 80% loan-to-value ratios for cash-out refinances. Now they’re tossing you a skimpier 70%, if you’re lucky. So what?
“Know your number, know what to buy, know what area to buy, know what product to buy, focus on the deal, don’t worry about the interest rate — you can always refinance,” Thach said.
He added, “The interest rate will come down in ’25, ’26, ’27, it’s going to happen. It did in the last three cycles. This is my fourth cycle going through it. It’s the exact same playbook again.”
The pros have lived this rodeo for decades. Markets zig, markets zag, and inflation gallops off with what little patience you have left — but the big picture always rewards those who act, not the ones doom-scrolling Twitter for mortgage predictions.
Want some math to kick you into gear?
Thach puts it bluntly: “Waiting is going to cost even more than the rate because, think about it, if you pay $100,000 more now, even if you hold a higher interest rate for two or three years, it still won’t add up to $100,000 more than the property you bought.”
Let that sink in.
Fumbling for a rock-bottom interest rate often means you’ll pay a premium when the dust settles. Someone else will have made the move and be sitting on $100K more in equity while you’re still crunching comfort-zone numbers.
Hesitation is an investor’s most expensive habit.
If you spot a fixer or any deal where you can “add value, force value, and date the rate for now, but don’t keep sitting on the sidelines waiting to marry the rate — because by the time the rate improves, the real good deal is gone; it got picked up in the last 10-year cycle,” Thach explained.
“That one property you could have bought a year ago is now worth $100,000 more for that same fixer,” he added.
Markets always roll forward — you can either hop on the train or wave sadly as the caboose disappears.
So, quit fantasizing about a mortgage rate that may never come. Build your criteria, know your neighborhoods, and lock down your numbers.
Hunt for properties you can transform — places where you’re stacking equity by force: ADUs, additional units, upgrades — the whole toolkit. Act on deals with built-in upside rather than obsessing over today’s financing terms.
Because tomorrow, some other hustler will have already refinanced to a better rate, racked up appreciation, and left you with nothing but a diary of missed chances.
The rallying cry? If you find a deal where the numbers actually work, grab it.
The rate is just a footnote, not the story. Marry the asset, date the debt, and keep charging ahead while the “wait it out” crowd naps through another market cycle.
Tools like PropertyRadar can give you a serious edge by helping you identify the right properties to transform.
With detailed data on owners, property conditions, and market trends, PropertyRadar makes it easier to find deals where you can add or force value — so you’re not just guessing, you’re making informed moves that keep your investment game strong.
Ready to unlock the power of public records data and 150 million properties? Get a free PropertyRadar trial and find your next opportunity today.