All Forum Posts by: Kay Kay

Hi-

Is it a good idea to tap the equity on your automobile that is fully paid towards a down-payment for buying a property?

In today's market, a good car that you own has a good market value. There are banks that are willing to refi or allow you to tap the equity/cashout upto 125% of the KBB value.

Interest rates are well below 4 to 4.5%. Any thoughts, ideas or am I missing something?

Thanks!

Thank you much!

Once you reach 10 FannieMae/QM loans, if you have to buy a property in Florida, is it a must to have a LLC so that I can get a DSCR loan? Can I still get conventional 30 year or 7-6,10-6ARMS without having a LLC started after your 10 FM loans.

If you are in California, you may have to open two LLC - One domestic and one Foreign. Thinking of better options. Please suggest.

Considering inflation, it is not safe to have funds sitting in the bank.

I have to save/accumulate funds for a down payment - I already have $30K - Will add 5K every month

Any thoughts? 

Criteria:

1. It should be easy to liquidate for down-payment

2. Beat inflation or at least 5% and above

3. Medium - Risk

Options:

Any good income producing mutual funds, ETF, REITs?

I Bonds are having 1 year lock

@Stetson Miller Thank you Sir! I will definitely reach out to those insurance groups.

I am tracking those properties to see how quickly they are getting rented. 

On the property tax - Do they assess at the market price which is the purchased price or it is generally at 80 or 90% of purchased price?

Thank you for your detailed reply and it really hepls.

Any good insurance companies or references as I am also planning to a buy a new build at Cape Coral? 

When I checked Zillow there are still many NEW properties not being rented for 30 - 55 days. Any specific reasons for this? They are average 3 years old and in very good condition. 

With all recent price increase is it still a good time to buy new builds in Cape Coral?

How does the new builds get assessed for tax? I heard taxes are going to be low in the first year. Is it safe to assume 1.5% as the property tax on the purchase price?

Are these zip codes good for rental property investments? How is this neighborhood, appreciation rate, cashflow etc...

ZIP: 77705, 77640 -Beaumont, Port Arthur or Orange