All Forum Posts by: Jimmy Lieu

Wow, this post has so much value. Did you look into Home Ready or Home Possible financing at all? I am house hacking as well.

Also, if you go with a 5% down conventional loan, you have to 100% owner occupy the property for a year? What if you state it's an investment property?

What is VR? I don't think I am familiar with this term!

Hi Jasmine,

Have you thought about SFHs with in law suites? I am looking into house hacking myself and I was looking into living in the in law suite while renting out the SFH.

I think Trulia and Craigslist is pretty good and do by room options. I don't think Zillow and Hotpads do though. I am interested in finding out as more though too.

Hi,

My plan is to close the property, sign up for a new credit card offer, and use that line of credit to finance the rehab. After 6-12 months, I would like to refinance and pay off the debt + interest then. However, one thing I am worried about is that since this would be a new credit card, it would have a low credit limit (not enough to fully finance a rehab).

What would you say is the best credit card to use for financing a rehab? I have read about a lot of credit cards that provide 0% APR for the first 15 - 18 months, which would be perfect for financing a rehab! In your opinion, which credit card would you say the best offer?

I would love to hear your guys input on if you use this strategy and if it's a viable to do. And if you do use it, how do you overcome the small credit limit? Or do you ask for a higher credit limit in the beginning?

Thanks.

I just sent you a text message! Frankie recommended me to you and I was meaning to contact you

Hi Greg.

This post has a lot of value - thank you! With a 5% down conventional loan, would there be upfront MIP as well? Thanks!

Hi all,

I am from Portland, Oregon, but I am looking to invest in the Bend, Oregon market. I'm looking into doing a house hack over there! Would love to connect and meet other investors in the area. Thanks so much.

Hey Matt, this is so inspiring. I am on a very similar journey where I am wanting to definitely close my first property in 6-12 months. I would love to connect!

This is a really good response. Even with FHA's upfront mortgage insurance and MIP, it is still a better deal than a 20% down for a conventional loan?

Also, I believe conventional loans can go as low as 5% right? So would this possibly be better than a FHA loan at all?

I would love some more insight on this!