All Forum Posts by: Alex Xu

@Bruce Lynn @Brian Bohrer@Brad Miller Thanks all for the quick response. 

My primary goal in getting a license is to have the freedom to access MLS, represent myself, and do a side gig to help friends and families. Currently, my goal is not to do full-time as a career. Not sure what it cost to keep my licenses but do you think it is worth the cost and time to keep my licenses annually for the reason I'm using them above?

Is anyone familiar with using Life insurance to invest in Real estate? I am looking to open a life insurance policy for Infinity banking concept to invest in real estate. I am debating between Whole life or IUL. Which one is better as a private lender to invest in Real Estate?

Hi BP family! I am looking to get my Real Estate license to act as a a real estate agent part-time. I am debating whether to get my license in either PA, MD, or SC. I hope to get advice on: 

1. What online preparation course would you recommend?

2. Should I find a sponsor first before studying for the exam?

Any other advice for a newbie to get their Real Estate licenses? I really appreciate any help you can provide.

Hello all - I have my first investment property scheduled to be closing at the end of the month (2 weeks from now). Is till haven't got the appraisal report yet, so I'm a little worried.

Also, as a rookie in the game, any tips or things should be aware of or double-check before the closing date? I would love to hear from an experienced professional on BPP.

Also, do you think it will be wise to hire a real estate attorney to review closing documents or attend on closing day?

Any input would be helpful. I really appreciate any input you can provide.

Stupid question? Maybe...I'm in the process of buying an investment property (single-family). I plan to open a business using this property. Can I create an LLC for the business and rent the property to my business? In this case, I will be the landlord as well and the business owner. I already spoke to the zoning officer, the nature of my business is allowed under the zoning regulation. I would love some of your opinions/inputs. Appreciate it.

Hello BP fam.

I have a mix-use property under contract, and I plan to put 20% down conventional loan use as a primary residence. I plan to live there and operate a business using this property to be the landlord and a business owner. I can use the business to pay down the mortgage and potentially generate cash flow. I know it is risky to be a landlord and owner, but this is a great way to get a loan and start my real estate investment journey. 

I plan to move out after one year then operate as a business property mainly. 

Do you guys think this is a good idea? Anyone else is doing something similar? Any advice or things I should be watching out for? I appreciate any inputs. Thank you. 

Hello! I am a new real estate investor in the PA/MD market, on track to buying my first rental property within the next 3-5 months. I have learned as much as I can on BP and other real estate books. Now I'm looking to find a mentor. Therefore I'm wondering in your experience, what steps/tips/resources do you use to find the right mentor? Appreciate your advice.

Thank you for your common! I agree that everyone's situation is different, timing the market is challenging; if the number works out and hold for the long term, it will work out. I have a follow-up question regarding lending.

I just spoke to my lender, and he offers me 3.65% with 2points, which means I have to pay 2points on the loan amount to get 3.65% since rental.My loan is around $160K. Is this a reasonable rate?? and is this common for investment properties? Please advise! Thank you!