All Forum Posts by: Elin Trinh

Hi! Several times in the BP podcasts they talk about putting down a 3.5% down payment. When I run the numbers for a property and enter a 3.5% down payment it adds a mortgage insurance fee. They don't talk about mortgage insurance when they talk about 3.5% down payments in the podcasts. Is there a way to put down 3.5% and not pay mortgage insurance? Thank you in advance for your help.

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Pearl City, Hawaii

Hi @Justin Harris - Thank you so much for your offer - I will definitley be contacting you. Thanks!!

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Honolulu, Hawaii

Thanks @Michael Borger

I appreciate you taking the time to explain!

1 Vote

Honolulu, Hawaii

Hi @Bryan Vukelich

@Bryan VukelichThank you for your response. I should have been more specific about my plans for the property. Can you take a look at my explaination below and let me know your thoughts?

Thanks!!

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Honolulu, Hawaii

HI @David Rucker

Thank you for your response. I should have been more specific about my plans for the property. Can you take a look at my explaination below and let me know your thoughts?

Thanks!!

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Honolulu, Hawaii

Hi,

I should have been more specific in my post...

I am interested in purchasing a leasehold property to rent out only. I would be running the numbers with the understand that I would give the property back at the end of the lease. I understand that it would take years to breakeven, but I am thinking that after the breakeven point it would be strictly cash flow. Please correct me if I am wrong. So, if purchased a leasehold apartment for $100K (for example) what other fees (other than HOA) would I need to pay? Are there monthly payments to the leaser after you purchase the property? Thank you so much in advance for your help!

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Honolulu, Hawaii

Hi! I am interested in buying a leasehold property on Oahu as an investment property. I have a have some questions:

What fees are there when purchasing a leasehold property other than the purchase price?

How do you run the numbers on a leasehold property?

Is there a REA on Oahu that you recommend?

Thank you SO much for your help!!

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Honolulu, Hawaii

Quote from :

I'm in the same situation. I pay a significant income tax each year. The cost to sign up may be steep but I'm looking at it from a ROI. If I can save 10-15% It will be a 100% ROI in the first year. I'll keep folks posted about my experience.

Thus far I've had two 30 min getting to know you conversations with the advisor. Cost up front was made clear about 10K. Some of their suggestions were not a surprise. Other's I had not considered but I can see value moving forward.

Planning on having one more conversation this time with my wife on the call as well and that point I would need to pull the trigger on paying for the service.

Thereafter the plan would be to get teamed up with a CPA and Advisor team locally to build out the frame work in which I can maximize deductions.

Hi @Matthew Stanizzi

would you still recommend wealthability?

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Quote from :

Hey ! I currently use Wealthability, signed up not too long ago.

They course you get access to on Wealth and Tax strategies is GREAT! I have learned a ton. They highly encourage you to become educated in the topics yourself, rather than strictly relying on the CPA, which I like a lot.

Youll get referred to a CPA that they themselves have trained, and the firm we got referred to is great.

I'll be honest though, it took me about a year to pull the trigger on this due to the cost, but I am kicking myself for waiting that long, as my first years tax savings will be much more than the price I paid. That doesnt even factor in the ongoing savings and various other factors.

You are bound to get a bunch of people commenting on here saying you can get the info cheaper elsewhere, yadda yadda yadda, but I highly recommend them. I do agree thought that price is a bit steep.

I know @Michael Blank also has used them

Hi @Jake S.

would you still recommend wealthability? I am starting to work with them but still wrestling with the cost.

thank you in advance for your help

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Hi BP Fam!

Have you tried or working with Wealthability? What do you like/dislike? Is it worth it?

Thank you in advance for your help!

1 Vote

Honolulu, Hawaii

All Forum Posts by: Elin Trinh

Elin Trinh has started 16 posts and replied 133 times.

Post: 3.5% Down Payment Mortgage Insurance

Post: Questions about Leasehold Properties on Oahu

Post: Questions about Leasehold Properties on Oahu

Post: Questions about Leasehold Properties on Oahu

Post: Questions about Leasehold Properties on Oahu

Post: Questions about Leasehold Properties on Oahu

Post: Questions about Leasehold Properties on Oahu

Post: Has anyone used WealthAbility?

Post: Has anyone used WealthAbility?

Post: Have you used Weathability?