All Forum Posts by: Julia Tran

BiggerPockets book: How to Invest In Real Estate by Joshua Dorkin 

I like BofA not CHASE.  CHASE closed my HELLOC all of the sudden when I didn't do anything wrong but paying down my debt quickly.  They put a lien on my property with explaining or notifying me even though I paid all off.

If it's a money machine it's an asset.

HI, I want to remodel my three bathrooms and kitchen. The contractor told me to get the plan before he can start work. Do I get quotes from Architect or Structural Engineer? When I asked for quotes of structural engineer, they gave me $5000, $10,000, and $8,000. Which quote is reasonable for Orange County, CA house?

Are the lenders strict compared to before? Is the process longer? I'm waiting for 2.5-2.75% to refinance mine.

My mom already house hacked in OC without knowing anything about investing.  She bought the house 34 years ago, added 3 rooms, she lived in one room and rented out 5 other rooms and continued to save her money. In 5 years, she paid off her house. She used the equity of the house to buy 4 plexes, it has been giving her good cash flows until now.  She only worked for 5-7 years and retired. My cousin makes high income, same age as her, more educated, did not house hack. She's still working now age 66+ owning only one house, not sure if it's paid off, she just got layoff because they replaced her with someone younger and cheaper.

I'm looking for a local banks that do portfolio lending in my local area LA and Orange County, CA. I don't know how to look for them.  I called many banks, they said they do traditional (1-4 units) or commercial loans (4+ units) but not fix and flip residential loan. Most of them don't understand what I was asking for. I don't know why they don't know.