All Forum Posts by: Jason Tu

I’m looking at buying my first investment property in Sacramento and I recently got a preapproval from Wells Fargo for $350000. The 30 year rate is 4.875%. I have a 750+ credit score, no debt, and my monthly expenditures amount to about 10% of my income.

I was wondering if this sounded reasonable, or if I should shop around some more? Should I chat with a mortgage broker or keep looking at banks one by one?

Hi folks! Happy to meet you all! 

I'm looking to buy my first rental property ever in the Bay Area! Being a young engineer in SF, I want to start investing in my own property rather than paying the ridiculous rents here. I am looking to buy a house in the West Oakland/Emeryville area and rent out the rooms to other people starting out in the Bay, as well as live there myself. What I am trying to build is a community house where people can share ideas, make new connections, and serve as a comfortable social setting to come home to. I have the down payment taken care of and I have been touring houses in the area. My budget is < $900k. I should be able to handle the mortgage payments and taxes, even if I have full vacancy.

I am pretty new to the real estate investment world, and I would advice and perspectives on what I am trying to build, the area in which I am doing it, the market right now, etc. Alternatively, if you know the area and are open to chat, I would love to meet up for dinner/lunch/gym/etc. Thanks!