All Forum Posts by: Matthew Kwan

 yes I agree Terrell, you do not want a tenant that challenges you and knowing that they are entitled, because entitlement can lead to disaster @Carlos Valencia @Albert Bui

You can bring in a co-borrower to help boost your qualification in terms of the income side. For any governmental/conforming loans, lenders would allow 45%-50% of your gross income to qualify a mortgage. 

@Albert Bui @Carlos Valencia

HI George, there's no better way to stary your real estate journey then doing house hack where the government incentives us to put min down payment 0%-5% down depending on the loan program. It allows first time homebuyers to reserve their cash reserves and not needing to put all their savings away  into one asset class. I started my house hacking journey last year and would like to connect if you got any questions. 

@Albert Bui @Carlos Valencia

Even if the contract is under a LLC as the buyer, but the underwriter would still request for an operating agreement to verify whoever the buyer is linked to it @Albert Bui @Carlos Valencia

Single family or multifamily would be the route. Depending on your county regulation, you might be able to add extra value by building a ADU/DADU if you acquire a sufficient single family lot. As for multifamily, it tends to have bigger appreciation and cashflow since it's rented out as an individual unit @Carlos Valencia @Albert Bui

Yikes seems like a program that you dream at night and back to reality when you wake up @Carlos Valencia @Albert Bui

The best way to start your real estate journey is to attend networking events and potentially start off in house hacking. The beauty of house hacking is that it allows you to use min down payment from 3.5%-5% depending on the loan program(0% down of you're a VA) and being able to rent your vacated units to offset your mortgage payment. @Carlos Valencia @Albert Bui

You would probably need to construct a letter of explanation and provide a  justifiable reason. The downside of getting a bank loan is that they are only one dimensional and can only offer what their guideline say so. Have you tried considering getting a loan with a mortgage broker? They ususally can work with multiple lenders and provide you a tailored fit mortgage option. @Carlos Valencia @Albert Bui

As always trust no one and do your due diligence. You could always try create a legal contract between yourself and the investor and add certain clauses or liens that prevents the buyer from scalping you. @Carlos Valencia @Albert Bui

HI Jacob, defaulted as in cancel account? The best way to recover from any defaulted accounts/payments is to only payoff any outstanding debts and build your credit score over time. However, if you cancelled your account, it will take 1-2 years to build back up that credit history by showing credit agency that you are responsible with your credit usage and has been paying on time. @Carlos Valencia @Albert Bui