All Forum Posts by: Eric Le

Address them with that concern and put a clause into the contract. It's a negotiation, anything is possible. Worst case ask for 3 years, till

I would buy a 3-4 unit that needs some work. Since you still have a job, try to get an FHA loan or better yet, a 203k loan for a distressed multi unit. Live in hack it, hopefully you've force some equity then Refi and BRRR it

If you're looking to buy and hold. It doesn't matter if there's an correction coming. Get the right cash flow from each deal and bank on debt pay down. Stop trying to time the market and analyze more deals. Buy it distressed, repair to force equity (at least 15% for me), and $300 NET NET NET cash flow, than Refi. BRRR it and analyze deals everyday. At least 3 offer a week.

Start with 43k max at 50k. I just talked to seller asking 130k. Offered 65k and we got a contract for 67k including most of her furnitures. Remember, If your offer is not embarrassing, it may be to high

I just closed on a CO Refi for an investment property with a commercial loan at 4.75%. Rates are low right now so commercial loan are not bad at all 

Try Commercial loan

After facebook, you should try the neighbors. They may have their contact information. Another trick is to search on whitepages, they may show other names that's associated with that address. Then white page and facebook that person. I haven't tried skip tracing services yet, but they do offer that out there.

thanks for the response. 

After couples of days and talk with Loan officer. It's a better route(so far to buy then refi, the bank (2) that u talked to said no seasoning but they're only take sales price. NOT at appraise value. So I guess I'm Steering to buy then refi.  

Hi All, So I got a purchase agreement on a duplex, vacant now. It's valued at 165k, I'm buying it for 100k. I'm pondering should I Buy it out right with LOC then refi at 70% LTV, so I can buy another rental. Will bank consider sales price or appraised value? 6 Months seasoning? Any bank doesn't require seasoning? Or finance with a bank at 70% with 30% gift of equity ? House is vacant but people are asking to get in. Should I purchase with tenants ? So I can use the rental income ? But that'll require tenant transfer. How involve is that ? Thanks in advance

Hi All, So I got a purchase agreement on a duplex, vacant now. It's valued at 165k, I'm buying it for 100k. I'm pondering should I Buy it out right with LOC then refi at 70% LTV, so I can buy another rental. Will bank consider sales price or appraised value? 6 Months seasoning? Any bank doesn't require seasoning? Or finance with a bank at 70% with 30% gift of equity ? House is vacant but people are asking to get in. Should I purchase with tenants ? So I can use the rental income ? But that'll require tenant transfer. How involve is that ? Thanks in advance