All Forum Posts by: Billie Chen

@Kalib Williams you can put 3% down and the plus is that you're not paying for upfront mortgage insurance premium like with FHA. It has to be your primary residence.

@Dave Foster Thank you! I will check with my client the lease back option.

I have a client who is selling his current investment home which he purchased for his parents ( and with a different lender). We can offer him a loan program which he can purchase a “primary residence” for his parents. Can he use 1031 exchange! If this is a second home sort of?

@Basit Siddiqi Thank you. I agree. If I tie up more money than I should in one property, it would take longer for me to get to property #2. Take care.

Hello,

TIA if you can help me here. I'm deciding between two SFH. One is in good condition. Nothing needs to be done. Its valued at $170k. The second one is 20 years older and needs about $15k of work and not to mention possible electrical and plumbing issues. It's $155k. They are both near highways in up and coming areas. About 20 min from each other. I want to live in the house for couple of years then rent out. Keep in mind, I'm not a handy person. I can't even plug in a hammer!! 😁 the first house is more cookie cutter. The second I can put personal touches. How should I evaluate this besides the money upfront? I'm also comparing them by schools, tax rates, lot size etc. Please share your tie breaker strategy! Thank you!!

@Brian FosterThanks for the insight!  Will keep looking.  Hoping to pick up a property by fall.  

Hello BP community,

I'm current looking at homes in Tomball and The Woodlands/Spring area right outside of Houston.  Mainly homes in good school district.  I feel the numbers make sense, but I don't have any insight on the rental market for single family homes.  There are a lot more large multifamily complexes coming up, or already finished.  Can anyone in the area share with me the typical time it takes to rent out a house?  Would it be better to look into a 4-2, rather than a 3-2 so I am not in competition with apartment complexes? 

Thanks for your time.

thanks gentlemen!  Really appreciate your time to answer my question.  

Hi BP Community,

My boyfriend and I are looking to invest in a fourplex together. We both have other investments on the side. Since we are not married, should we set up an LLC or some other form of business entity? And what's the best strategy for applying for a loan?

Thank you in advance for your input!