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All Forum Posts by: Kevin Oh

Kevin Oh has started 2 posts and replied 5 times.

Post: Shopping around for better rates

Kevin OhPosted
  • Posts 5
  • Votes 3
Quote from @Trevor Finn:

Hey @Kevin Oh,

It’s great that you’re shopping around for the best deal! A good lender should understand that. You could try explaining to your previous lender that while you value the relationship, the numbers make more sense with the new lender this time. 

Let them know you’d still love to work together on future deals if the terms align better. A strong professional relationship should be able to handle honest communication!

Hope this helps!


Post: Shopping around for better rates

Kevin OhPosted
  • Posts 5
  • Votes 3
Quote from @JooYung Choi:

Hey Kevin,

As a homebuyer, it is in your absolute best interest to shop around lenders for the best rates and terms. Is your previous lender a family member or a close friend? I find it weird that your previous lender gave you trouble. Business is business! 

 He is not a family member or a close friend. He was a referral from an investor. I think he was upset because I used him in the past and he may have expected that I would continue with his services. I know in business that every dollar counts but is it worth it to burn a relationship?

Post: Shopping around for better rates

Kevin OhPosted
  • Posts 5
  • Votes 3

Thank you for you feedback Erik.

Both lenders are highly recommended by my realtor. Over the 30 year period, I would about $10,000 dollars with the other lender if I do not buy down the rate. With a rate buy down, the difference in payment is more significant. 

I plan to talk to both of them in the morning to figure out which is the best option for me. 

Post: Shopping around for better rates

Kevin OhPosted
  • Posts 5
  • Votes 3

I am in the process of buying a property. I have used a lender in the past and wanted to shop around to see who can give me the best rates. I got pre-approved by my previous lender and by another lender. My previous lender was not happy that I was shopping around. The new lender gave me a better interest rate and lower monthly payment by a few dollars. I want to keep a good relationship with my previous lender but if I do not go with him, the relationship is broken. What should I do?

Post: Running numbers in south carolina

Kevin OhPosted
  • Posts 5
  • Votes 3

Hi,

I am fairly new to real estate investing. I have one rental property and looking to expand. I have ran numbers by calculating the risk level, cash on cash return and cashflow. I was wondering if there is different ways people run numbers to find a good deal.