All Forum Posts by: Chang Pan

@Kenneth Burdick

Absolutely I prefer tighter standards since it reduces the competition. Good credit score and a good w2 job will pay in that case.

@Russell Brazil

It’s a big deal to me here in Virginia. My lender stops accepting investment mortgage application from today. My loan officer told me we were lucky to lock the rate last Friday otherwise my application would be rejected. He turn down three loans today.

@Whitney Hutten

Thanks for the info. I have done several BRRRR with conventional for better rates but never tried commercial. I was thinking to fill the total 20 conventional loans (me and wife) before going commercial. Maybe it's time for me to try something new.

@Amy H. I used CapCenter for most of my loans. They just stopped doing cash out ref for investment property a couple days ago. I also called chase and they said the same. The house is in Henrico. I am okay without cashing out on that one but will use caution in the near future.

@Sarah Stamper

Thanks a lot! I will try that!

The several lenders I usually use told me that they wouldn't do cash out refinance for investment properties in the foreseeable future. I guess I won't be able to do BRRRR for a while. This is for Richmond, VA market. What do you hear in your market?

4/1 is ok. Come back and ask on 5/1, 6/1 and 7/1..... I am bearish about the situation. It will probably become much worse down the road.

Your creative offer is amazing! Learn something new today.

Very nice work! Your story is so inspiring!

My rule for investment in local: 15 minutes from my home so I can stop by to fix any minor issues. If I have to invest 2 hours away I will hire a pm to manage. I value my time as $30 per hour so you can see the logic.