All Forum Posts by: Elaine Lau

Hi Guifre

The loan amount would be about $196,722.  Currently, my mortgage rate is 5.375%.

 My original loan was a 30 years fixed .  I have 233 months remaining.

My credit is excellent. I am looking to lower my mortgage payment.

Hello I am looking to refinance a rental property in Las Vegas, NV. What is the current rate for 20 or 30 years fixed? Any recommendation for a mortgage broker?

ahhh... I see. Thanks Wayne Brooks! It will probably be a bidding war close to the ARV. So if during the auction, if the purchase price goes beyond the total amount of the liens, whatever remains will go back to the owner of the house (assuming there is no other liens)? If i want to buy the hold, the best way will probably be make a cash offer.

How do I highlight the name btw?

I have read somewhere that the second lien holder's lien may get wiped out.  Does that only happen in a shortsale home?  

First position lien holder is foreclosing.  

I am looking for advice on how to structure this possible deal.  Here are the numbers:

ARV: $690k

Loan Balance: $320k with 1st position loan $220k and 2nd position loan is $136k. This is a preforeclosure home with a NOD $8,600. Equity is about $370k

 I am thinking of purchasing this property myself doing a subject to or wholesale it.  Is it true that I can negotiate with the second lien holder?  If so, do I need an agent to do that or can I negotiate it myself?  How would you guys structure this deal?

thanks for the tips @ David Friedman

Hello my husband and I would like to start investing in real estate.  The information on biggerpockets are really helpful and overwhelming.  There is so much to learn!  We are not sure how to start.  We were thinking of option #1 start wholesaling with a mailing campaign or door knocking. Or #2 maybe get a real estate agent license first to expand our network and to learn more first? Any advice?   

And we are also looking for REI group/Meetup in the IE area. I was looking at the old posts on BP and came across this link http://www.biggerpockets.com/forums/86/topics/103036-inland-empire-real-estae-club. I am just wondering if thegroup still meet at Upland Sizzlers on every Tuesday.

During the pre-foreclosure/auction stage, can we still make an offer to the owner before the auction date?

Hello my husband is interested in becoming a real estate agent in CA.  He is looking at the online courses First Tuesday, californialicense.com and Allied.  For those who have taken these courses, what do you like and dislike about it, and would you recommend it?