All Forum Posts by: Lena Chen

Lol I'm from China and I'm specialized in Fengshui (kidding) I know no Chinese will buy a house with 4444 as the address, some people try to avoid stair facing the door, some don't care. A house direct facing a street should be avoided. For rentals people care less.

Thanks for checking for me Jesse! It's kinda frustrated as the renew takes months to complete and we should have started it earlier. I will check with local lenders to see if we can put it just under my name. Please PM me if you have some information on that!

Welcome @Trevor Lohman ! I am also quite new to invest in Socal and I am not surprised to see we share the same concern here. I have been looking into the Inland Empire area for a while and am going to close my first property here. It seems to be a common issue of problematic tenant and long eviction process.

I have considered Texas before but I am not confident to invest out-of-state as a newbie. CA is cyclical I believe and I think it will be on up-trend for a while. Maybe it makes sense to look into the foreclosure opportunities, I am going to learn more regarding the financing options to get into that area.

Thank you @Account Closed for the quick reply! Unfortunately he already filed the renew to I believe the infamous California office :( I didn't know he can do other places... Any suggestions on the other alternative? Would a local community bank be able to work with that?

Hi @Marco Santarelli , I am reading the Ultimate Beginner's Guide now. It is so helpful and resourceful. I wish I had known this years ago. Thank you Bigger Pockets!

I am working on my first rental property purchase in Socal and trying to close but I have encountered some issue with the financing. My husband and I have our primary residence mortgage, and we are in escrow for a SFR cost 199,000. We are looking at conventional loan with the broker who worked with us on the primary residence. She mentioned the cost is going to be around 7,700 for everything. I think we can find a place with cheaper cost to make it a good investment. However my husband is in the process of renewing his H1B visa for another 3 years and his immigration status is currently expired. The speed that USCIS processing it is slow, as we try to shop around for lower closing cost, the other broker wouldn't accept the expired H1B visa. We are both working full time and the immigration should have no problem to renew it. I am wondering if I can find alternative financing resources which may accept the visa in renewal status. Or if it will be possible to use my income to get the loan. The broker I spoke to said it will not be possible, I don't know what debt-to-income ratio would be acceptable.

I am quite new to REI and I appreciate any thoughts or idea on this!

Thank you @Ali Boone ! I'd love to network with you and learn from your experience :)

Thank you @Karen Margrave ! This is great advice for me to get started

Thank you Terry! I hope it goes through smoothly :)

yes, it's my first one and I feel a lot of things I'm not sure of.