All Forum Posts by: Andrew Yu

I have a rental with 2 tenants on lease. They were an engaged couple. But something happened, the girl moved out. Now the guy isn't paying November rent. I served 3 Day Notice to Pay Rent to him yesterday. In this case, when I file Writ of Possession, are both of them responsible? We never did any additional paperwork after the girl moved out. The guy just texted me saying he wanted to stay and continue paying rent. I acknowledged... Should I go after the girl for the rent too? The lease isn't expired until May next year

@Dmitriy Fomichenko What do you mean by "lose opportunity to invest tax-free"? Like permanently or after a certain amount of time/dollars?

I heard you can withdraw your own contribution from Roth 401K any time without tax or penalty, since it's after-tax money on the contribution. Is it a relatively easy process? What does that entail? Do i have to roll into a Roth IRA first?

@Cassi Justiz Trying to buy & hold

@Melvin List That's a good point. I will let her to check FHA Streamline Refi, her current lender & HARP actually

Seller has a house bought 15 yrs ago, with interest rate of 11.3% for 30 yrs. Her PITI payment is $885/mo. Market rent is about $850. House basically doesn't need repair. Bought at 76K, worth about 80K now. Has mortgage balance of 63K. She can't refinance it due to poor credit score. How can I make this work or I shouldn't? It's 15 years into the mortgage though...

I have a property listed for sale on MLS. It's in a rural area of Arkansas. My question is what would make a lender decide not to lend money due to the condition of the house. It has two broken windows, I plan to have that replaced. But the house is in good condition. Plumbing works, and electric works. Roof is not leaking either.

Alright. Will skip this one...

I have a seller willing to sell her 2nd house with sub2, but she's filing bankcruptcy in December. Can I do sub2 with a land trust in this case? Would the bankcruptcy trustee reverse the deed to land trust? If not, what's my other possible strategies to purchase? 

@Curt Smith Right. I remember seeing it somewhere saying after a period of time loan being paid on time by others, it won't count against DTI. Thx for confirming with me.

Seller is open to sub2, but wants to buy 2nd house. Does their 1st house's debt count against debt-to-income ratio when they apply for loan on 2nd house?