All Forum Posts by: Giman Kim

Yeah we're thinking about sitting and observing for a little bit and instead, work on saving more money for downpayment & cash reserves and paying down our principal for our property in Cambridge, Mass. We just saw few target properties go from active to contingent/pending status on MLS, it's hard to land on good cash-flow/turn-key property with low inventory nowadays. Thank you all for the input!

Derek, so assuming I get a 300K from equity via cash-out refi and I purchase a new property in full cash with no mortgage but with enough monthly cash flow to cover the new loan amount of $494 K ($194K + $300K), wouldn't it be okay to take this consolidated approach with one loan with two cash-flowing properties covering the monthly mortgage and other expenses? I did think about HELOC option for downpayment but If I do a separate purchase, that's another mortgage. Plus, it takes several years to break even on the closing cost and first few years of payments are mainly applied toward the interest and less to the principal. If I acquire the second property with full cash, that's at least an instant equity which I may be able to tap into for 3rd, 4th,..assuming properties rise in value over time. Any other thoughts or suggestions?

Brad T., 

Any duplexes or 3-bed/2 bath off-market properties in South Philly? 

Hi, 

As interest rate is dropping with impending federal reserve's announcement next week, I feel like this is a good time to tap into equity in my investment property in Cambridge, MA 02141 and maybe purchase another property with cash.  Any local lenders to recommend? 

 I'm interested in South Philly.  Where would you consider C/D neighborhoods there? Is it further south (ex. Lower Moyamensing, Whitman,..) and further west (ex. Point Breeze,..) from Passyunk Sq/E. Passyunk?  Sorry I'm not from Philly but I would appreciate any insight.