All Forum Posts by: Jacob Song

Hello, thanks everyone for reading my post. I have questions to both Investors and lenders.

Investors, How do you usually owner/seller finance your home which is not 100% paid off?(example 20%~25% equity) with out causing too much trouble with lender? are there more than one way to do this?

Any lender in Dallas/Austin Texas area can help me if there are any programs that is okay to 

sell my property that is not own free and clear? 

Thank you very much!

- Jacob

Hello, I live in Orange County and plan to buy some properties in Bakersfield and sell it with seller financing.

My goal is to offer similar mortgage that the tenant would be paying as a rent. The price range of home that I have been looking for is under 150k.

Is there stricter law in California for doing owner financing compare to other states?

I have been contemplating between Arizona area and Bakersfield.

Hello, me and my family have around $300,000 of cash. We are thinking whether we should invest multi family apts in California or Las Vegas..

I know that Las vegas is cheaper and have more cash flow, but I heard that people in las vegas there are many overturn rates. I heard rumors that says out of state investors in Las vegas are looking for "next sucker" to buy the property from them because they are having bad experience. I think it might be because of high gambling rate and other stuff. If we buy a property, we were thinking of about $1200,000 to $1400,000 in vegas or California. 

Can any body tell me their own experience investing in "multifamily apts" in Las Vegas? should I avoid it?

Also if I invested in both Los Angeles and Las Vegas $1000,000 apts, what would be the tax difference be? will CA be alot higher?

Thanks for reading.

Hello, I have few questions. I am currently taking a break from my job. 

1) When you do a seller financing (owner financing) or other creative financing, do you always need to show them(Bank or to the seller) that you have a regular job salary that get paid monthly? if so how long does the history have to be? is there anyway that I can buy a house without a job status?

2) I have a house with pretty good equity. If I refinance this house I will have around $40,000 and want to invest in some other multifamily in the future. How does investing with my refinanced money work? Do I need to show them that I have a job? or Can I just explain them that other tenants are paying for the property?

@Jesse Waters Thanks :) I guess government of SC doesn't want people to be investing in real estate. I would rather invest in another state where the tax is lower and population is higher(FL,GA, ETC..)  It is just ironic that on the list of property tax rate SC just comes out at 0.71% when it is a lot more higher than that. Thank you

@Nate Watkins Thank you

@Jo Amick @Christopher Bunge  Thank you. So how much exactly is property taxes in columbia? if you look at this pictures which the house is located in Columbia SC. they are paying more than $5,000 property taxes for a house which is around $150,000. It's like 4% property taxes, isn't that very high compare to the national average of 1%? is it only like this in Columbia, SC ?? 

oh thank you @Nate Watkins so in this case, house worth around 157000 getting taxed $5000, isn't thats still closer to 4% instead of 1%. right?

. so 

So it says my first home property tax will be 4% and 2nd 3nd or how many properties that I buy in South Carolina will be 6%. Isn't that very high? is this only in south carolina? which charges more property taxes on investment property?

Because my mom, who lives in columbia, SC had a house which was around 130,000 and bought 2nd house which was around 350,000. when she first moved to the 2nd house, the mortgage was only 1700/month. but later the home became 2nd mortgage the monthly payment, because of the taxes monthly escrow became 4000/month. which seemed crazy. is it suppose to be like this?

how about atlanta? florida or big cities are they similar?

Thank you everybody!! so @John Coleman will it be pretty easy to find tenants in greenville through craigslist and advertising? I worry because i think that SC population is low compared to other well known big cities. what do you think about buying a sfh around five points or USC area?