All Forum Posts by: Cindy Liu

It depends on the location and timing.  For flip, the most important thing is to ride with the tide.  It is a seller market so basically any Okey house can be sold.

If the property is in hot area like Bellevue etc, crazy buyers don't care it much although this would certainly turn down some buyers.  If the property is in other area, if you can hit the market in 2-3 months and reduce the price a bit, many buyers will still be interested.

Cong! This is great experience!

These are really high rates.  I've worked with lenders that charge 8.5% interest and 2% fee for short term loan.

I'm not a lender but have done many deals with the lenders.  So correct me if I'm wrong.

Under Fannie Mae guideline, for owner occupied property, the bank requires the gift from immediate family.  For investment property, basically no gift fund is allowed.  There may be some exceptions for government funds for low level income.  But apparently they do not apply here.

You cannot max your credit card, which will affect your credit score and also affects your monthly payment, debt/income ratio.  You can be turned down by the bank at the last minute as they will pull out your credit report again before closing.  

You cannot get more loan due to debt/income etc. Otherwise this question will not be asked.

The most feasible way is to ask rebate from your realtor, which you need to find one.  I've done it many times and saved me tons of money. Pm me if interested.

The 9.99% rate is definitely too high.  I have good referrals with several hard money lenders and have designated loan associates there.  Anyone interested, just pm me.

@Shiv Jey ask your agent to give you rebate to reduce loan principal.  I've done it many times and familiar with the banks that allow to do it.

@Travis Toler If you want to get a deal, there are usually only two ways to get it done: (1) price and term; and (2) timing and fast action.  I may have some advice to you. Pm me.

To be frank, real estate market, especially residential real estate market, is more and more like stock market. Nearly all information is public. To seek good deals under table is like to seek insider information, though with no legal risk. However, nothing is free. Why investors want to share good deals with you when you are a stranger to them? Seattle market is very hot. Every house, condo, townhouse, as long as it's not priced ridiculously, is sold very fast. Investors can simply list them on MLS to get high price from the bidding.

Just my two cents.  I wish you can establish good connections here, with cash in hand, and then probably you can get good deals from your friends.

Honestly, if you look for cash flow, you may look at South King County, like auburn, renton, etc.  But the property valuation appreciation chance is not high.

If you look for property appreciation, the Seattle real estate market is already very hot.  You may consider Bothell, Mill Creek, etc.

Pm me if you would like to discuss.

Pm me.  You need a team, with low fee agents and good hard money lenders.