All Forum Posts by: Crane Xu

@Zach Fridrich make sure your credit utilization are extremely low. No more than 10% will help boost your score quickly. 35% of your score is payments 30% is usage. Payments you can't control. That's built up over time. Usage you can. I brought my score up from 602 to 714 within a year and that's with a collection on file. My credit utilization is 4%

@Torrell Palmason I'm looking to use the equity on the 2 properties to buy propeties cash in TX. Boom in Central TX in next 5 yrs due to Austin being unaffordable and Samsung New announcement of $16bln chip factory in Taylor, TX.

@Kevin Sobilo thanks for the insight, much appreciated

@Kevin Sobilo so even if I owned the property since 2013 I would still have to wait the 6 months after I pay off the mortgage to take cash out refi?

- I'm taking $160k of equity out on cash out refi from property 1 to pay off a combined $160k left in mortgage on properties 2 and 3. Those separate loans cost ~1300/month. On the refi my payment would be ~700/month with no additional debt incurred while now having 2 additional properties at 100% equity. Which I'm then looking to take additional cash out refi to buy cash.

@Stuart Hoffman investment properties requires min 20% down + closing. If you are looking to pay 3-5% on a duplex, then buy as a primary residence. Live on 1 side and rent other side out

I have an investment property (100%) equity that I'm taking out 70% LTV to pay off 2 additional investment properties' mortgage. My question is once the 2 properties are paid off, how soon can I take out another cash out refi for additional investments? I have over 12 months of cash reserves on all properties combined.

@Joe S. Get equity in you SFR then sell and put the cash as down payment towards duplex or 4 unit..

I don't make/work towards goals or accomplishments. I create checkpoints. When you reach your goals of "financial independence " or "wealth" people tend to lose motivation and become stagnant and thus regression sets in. By making checkpoints, I am always pushing to be better and progressing in the race of life.