All Forum Posts by: Lien Vuong

Hi Len, if you havent found someone I'm happy to give a referral of someone I've used and am using for my designs. Feel free to DM!

If you have more liquidity in your 401K or other investments that would satisfy that condition for reserves. It sounds like you need to take a HELOC out for the downpayment though as 30k is not enough for a four fam purchase price in Boston.

Both of those neighborhood (all of City of Boston in fact) would need for you to be an owner occupied operator, are you planning on moving to NE? Eastie is definitely more price friendly and is an appreciating market as opposed to Southie where the value is at a ceiling. 

If you want to learn about the local market and plan on being there for some time I would join a RE team to understand the geographical nuances of the area and also introduce yourself to the community. RE is such a local game so knowing the streets and the neighborhoods are very important for your years ahead whether it is to Buy and Hold or to Flip. 

You can househack in Boston area and use a renovation loan. With your level of liquidity, you shouldnt have an issues qualifying as long as you have 2+ years of consistent 1099 income. 

Congrats!

Welcome Matt! Looking forward to see you on the forums!

I vote for Baselane if you're OK with completely remote. Leader Bank has great high yield accounts but if you want somewhere local I would Google banks or CUs nearby that would give you the best local service. 

Yes absolutely that's what you can do and what a lender will do to fully approve you. It will help you get qualified for a higher pre-approval and lower your debt to income metrics. 

You will want to sign a short term lease agreement and get proper deposits for them such as last month and security. Given that they're likely going to be paying everything upfront it should be fine in terms of cost but you're switching from ST to MT to they're now your tenants.