All Forum Posts by: Jimmy Lieu

Hi,

If I am looking at investing in a property, can I pull permits on a property online? Or is this something I need to ask the listing agent for?

Hi Steven,

That is really inspirational. I'm moving to Columbus in a month or two to start house hacking. Would you recommend doing a BRRRR as my first property at all if I do not have experience with rehabbing at all?

I am definitely leaning towards house hacking, but I've been reading more on BRRRR and it seems like such a great concept to build your RE portfolio.

Fed money printer go brrrrrrrrr 

HELOC is basically a credit card you get to borrow on the equity you have in a property. I believe most lenders will require you to have at least 20% equity in the property to qualify for a HELOC. When you get the HELOC, you can use it like a credit card which you can purchase stuff with it and you have to pay it off.

There's two periods: draw period and repayment period. The draw period is when you can use the HELOC like a credit card and repayment period when you have to pay back everything.

You can use the HELOC with up to around 75% of the total equity in a property. So with the 500k property, you can get up to a HELOC around 375K.

I have never used a HELOC but this is what I've read and have been told.

Hi Remington,

What is the difference between doing conventional loan /w 3% down versus doing CRA loan /w 3% down? Are there additional perks to using CRA compared to conventional?

A lender told me that rental income doesn't count towards DTI if you have no prior experience landlording. Would you say this is dependent on the lender?

If you use a non-QM lender, that means you can't use Fannie Mae/Freddie Mac then which will mean much higher interest rates right?  

Hi,

I am moving to Columbus Ohio in a few months and looking to purchase my first property there soon. I don't have a property at the moment. However, I want to start connecting and building relationships with property managers but I feel like it's a bit difficult to do this without a property. In addition, I would like to ask them about what they think about a certain property or area while looking at properties. 

How should I go about networking and building relationships with property managers without a property? What would you guys recommend?

Thank you.

Hey Christian,

I am in the same boat, about to start house hacking in the next few months - moving to Columbus OH. I own my own social media agency and have made 6 figures in the last few years. Now, I am transitioning to real estate investing. I'd love to connect.

Also, I have 50% of my net worth in cryptocurrency, 45% in cash reserves (for real estate), 5% in IRA (stonks)

I'm 22 and I am doing a very similar thing. I'm planning on moving to Columbus OH in a few months. I've been spending the last few months learning and educating myself as much as possible. I'd love to connect as well.