All Forum Posts by: Justin Yin

Hey, don't know why I didn't see that somebody replied. I'm wondering how others make their money here in Southern California. Maybe property appreciation?

Hello, my name is Justin Yin. I work as a manufacturing engineer and my wife is a civil engineer working for the GA Dept. of Transportation. I currently work in Albany, GA and my wife and I just bought our first rental in Orlando, FL in Jan 2016. 

We will be moving to Oxnard, CA around September of 2017 and was hoping to house hack in a 30 minute radius of Oxnard (so looking at Ventura, Thousand Oaks, Camarillo, etc.) Neither of us have been to the area before so we've just been researching online. Honestly it has been really difficult to find anything online that cash flows or meets the 2% rule, so we may have to change our strategy. 

I may be able to visit a couple of times before we officially move, but I'd like to know what real estate clubs were in the area and when they meet so I could try to time my business trip with a real estate meet-up. 

I would also love any recommendations for real estate friendly agents. 

Thanks!

Justin 

Hello, this is a question for those who own duplexes or triplexes. A lot of real estate strategies I've read involve renting out a duplex or a triplex because of the added revenue stream. I was wondering what your experiences were with tenants. An uncle of a close friend of mine has two duplexes that he is currently renting out and the only applicants he can ever get are the possibly illegal immigrant kind. I don't know if it's the location (Atlanta), but it seems like many of the good tenants simply decide to rent in apartments or purchase their own homes.

So I guess the questions I have are:
1. What kind of tenants have you had/screened?
2. How do you market to good tenants?
3. Have you ever lived on one side and rented the other?
4. How was the experience?

Thank you!
Justin Yin

Any other strongly recommended books?

I appreciate all of the advice. There's so many things to consider and so much more to learn. Thank you!

Dion DePaoli, this is all going to be 2 years from now, but I'm slowly saving up the 20% down payment and I planned on loaning the rest from a family friend outside the US. He's not licensed.

I guess I should have started by asking how it works with private lenders in the US?.

Sorry for the confusion.

Thank you all for the support. Honestly didn't expect this many responses.

So would it be different if I had $20k cash and was getting a loan from somebody overseas? Would that get taxed going out/in to the country?

They wouldn't be in US banks. Probably Taiwanese or Chinese banks.

Loc R., could you explain what you mean? For example, if I have want to buy a house worth $100,000 and I had $20,000. The LTV is .8, correct? What are banks typical underwriting limits?

Thank you!
Justin

Hello, so I was wondering how the banks or sellers would react if I had financing from a private lender who is located outside the United States? Is that possible?

Thanks!
Justin