All Forum Posts by: Hae-Yuan Chang

I'm really into getting reward cards for the points. I always pay off my balance, and as a young investor, I have a 760 credit score (lower because of age). Not sure the route that I will take for my second rental property, whether it be hard money lenders, seller finance, etc. But I was wondering how having multiple cards look to any type of lender, if it matters at all? Or does credit score only matter? I only have 3 cards now, but I would love to get a few more for rewards and close some out in the process (churning). Any experience with this would be great!

Hello! My mom and I are both on a FHA mortgage for a house that I currently reside. This property is also a rental property, so we are making cash flow on top of monthly payments. My mom is wondering if she can get another loan for a rental property, since her debt to income ratio was almost too low for the FHA mortgage. Does the income from this property help get another loan? How does one manage to get multiple loans? Thank you in advance!

@Jarrod Benson It is, UCF area!

Hello! I am purchasing a property and setting up the utilities. I am a little confused about utilities, is there one utility provider or multiple that you can choose from? And is electric and water separate or within the same company? I am from the Orlando area. Thank you!

Hello! I live in Florida. I was told that older homes usually have limited (10k) water coverage. The house I am purchasing is 1956. Was given a quote from Security First for $958 and was told that it would be the best option. If you guys have any insight on this, it would be great! Thank you.

@Jeff T.  @Eric H. @Derek Lacy @Russell Brazil Thank you so much! All this information is very helpful. I was told that usually houses that old don't have lots of water damage coverage. I spoke to a neighbor and his house was built the same time. He has a limited water damage coverage as well.

Thank you everyone for the replies!

Hello! 

I have been trying to find the best homeowner's insurance for an FHA that I will live in/have for rental income. I live in Florida and the home was built in 1956. There are two policy quotes I am looking at, they both cover the cost of the home $180k. One is for $1284 and the other is for $954. The cheaper one has a limited water damage policy for up to $10,000 because of the age of the home. The other doesn't have a limit. What would you do in this situation? Looking up water damage acceptability, it seems more like freak accidents that are unlikely to happen. I appreciate any insight and any tips for how to read insurance policies.

Hey everybody! So I was calling around insurance companies and got different quotes from each. Statefarm was on the higher side, even though they do some discounts. The lady was telling me that when I comparison shop, to be aware that some insurance companies don't follow through and don't have as long or strong of a reputation, though they may be cheaper. Not sure how sound this was or if she was just really pushing her policy. How are insurance giants compared to smaller insurance companies? I want to make the best long term decision, so do you guys have any tips for this? I reside in Florida! Thank you!

@Sarah Ziehr

Thanks for the response, Sarah!

I'm having my lender talk to the underwriting department to ask about this situation. I wish I can submit all the paperwork before I sign the contract though, so I know for sure if it'll be approved.

I have a super part time income because I go to school. I have a couple thousand in the bank, and I get what I need for tuition plus stipend from scholarships from school.