All Forum Posts by: Daisy Chau

I know I have this option to rent, but this is not a cost effective way to solve my problem. I would rather to figure out other way than putting money into other people's pocket and get no return on money I spent. I paid rent for my retail business for 20 years, I swear that I am not going to rent from anybody regardless of residence or commercial. Thank you for your advise.

Actually, I plan to purchase my primary home first, if I can find a way to get pre-qualify or pre-approve a loan, then I don't have to wait for selling my current property and hope can move out of Utah before this Winter. Unfortunately, I called few lenders, they all require W2 or steady income. I guess I do not have other options. Do you know any local small bank in Seattle that I can give it a try? Thank you for your information.

Hi Russell

My name is Daisy, I have a similar situation as Jerry, but I am from Salt Lake City and want to move to Seattle soon. I am self-employed but not make enough money to qualify to pre-approve a loan, planning to buy a property in Seattle, possible looking for a duplex and live on one unit and rent the other. But I do have some cash on hand and a lot of equity on my primary home. Can you think of any lender that can help me to get a pre-approval, once I sold my current property, then I can pay off the new loan, I am looking around $150,000 to 200,000 loan. Thanks

Daisy

I am at the same position as yours, it all depends the numbers. If you have a healthy cash flow by renting out, I would do that, if not, sell it to get a better property. 

I am planning to move to Seattle soon, I want to invest some properties in there, can you tell me more details about that. How many properties need to be rehabed and what are the market value? Are you doing wholesale or what? Thanks

Daisy

Hi there,

I am a newbie on BP, invested a property 6 years ago, held for about 6 years, unfortunately, didn't make any money and just sold the property. I am interested in learning how to get passive income. I am semi-retired now and want to move to Seattle, but can't get a pre-approved loan from Wells Fargo because I don't have enough income now, any suggestions to get a loan pre-approved from Seattle local bank or mortgage institution? 

I have no problem to put 25% down payment and got a lot of equity on my current home. Any ideas are welcomed. Thanks