All Forum Posts by: Harman N.

@Account Closed - I am a very simple man when it comes to eating. I like hole in the wall places, so you probably don't wanna take your wife on a date to any place I recommend :-)

Having said that, Pakwan on 16th Street is my favorite place in SF. It's BYOB too, so super cheap!

I also love Yamo - a small Burmese place with 6-8 seats at a counter, cash only, $6-8 a dish -- hands down the best deal in the city!

@Amit M. - I'll try you next month. Maybe the best restaurant in the city? I've been there ~170 times but not since I moved out of the Mission :-( 

@Jon Q. - 12-15% cash on cash return with what kind of leverage? 

@Kyle J. - thanks for sending your article!

Sounds like quite an interesting background! Welcome from another n00b!

@Amit M. - I actually did spend a couple of hours late over the weekend reading your older threads, as @J. Martin said I should look you up since you had success with the 'buy 2-4 & add value in SF' strategy. Why appreciation matters in the SF/Bay Area thread in particular was a good one. Would love to pick your brain over a Mission burrito!

@Account Closed - I love the way you laid out your goals in your profile! 

@David Dachtera - I don't have a lender yet. I'm currently working to rehab and add value to a duplex in SF, and then hoping to use that equity created to fund more REI. In a couple of months when I'm done rehabbing I'll open a HELOC. I'm just worried that late this year or early next year SF HPI could start trending downward

@Kyle J. - Do you know how often lenders typically exercise the right to lower the limit? And what magnitude of price drop usually compels them to do so?

Hi all,

Let's say you get an appraisal and open a HELOC, and some time later house prices in your market come down. What happens if:

1) You've already taken a draw from the line of credit

2) You haven't drawn on it

I'm guessing in case of #1, the lender doesn't do anything (unless there's an option similar to a margin call for stocks)?

But for #2, does the lender re-appraise and lower the amount you can borrow? 

@Jennifer Hubbard - really good discussion in the comments of that article! Thanks for sending!

@Russell Brazil - how much variance across lenders is there in the value? Are they all around a 10% FMV discount, or are some higher/lower?

@Darren Budahn - did you get a good rate to go that high on the LTV?