All Forum Posts by: Matthew Kwan

maybe two diff sets of colors for ceiling and walls to make it more vibrant @Albert Bui @Carlos Valencia

Condo investments would only be ideal for dense countries like Hong Kong/Singapore where it is impossible to own a land to develop. As they can only value appreciation over cashflow. However, the US still has several opportunities to acquire raw land or a house to invest in. If you were to invest in condo, there most likely have monthly HOA where they keep increasing every year, in which minimizes your cashflow opportunities. @Carlos Valencia @Albert Bui

The appraiser will use the market rent values as the lease agreements from the tenant will not be influenced by it. In order to pass or qualify the SS test, the subject property will need to be 3-4 units by using FHA. The gross market rent of 75% has to be more or equal to the projected monthly mortgage payment (PITI) @Albert Bui @Carlos Valencia

You should request your lender to proceed with a soft pull where it gives the lender enough information (one score instead of 3 scores from the credit bureaus) and the current liabilities to estimate your max approval loan amount. The downside of doing soft pull instead of hard pull is that lenders will not able to run the automated servicing system (AUS). It is an integrated automated system that implements the guidelines from Fannie and Freddie. The underwriters will use on this automated system and to determine if your loan will be approved/rejected.  @Carlos Valencia @Albert Bui 

 Yes thanks for reaching out Brett! I just sent you the info via email! @Carlos Valencia @Albert Bui

HI Damion, I would  suggest on house hacking a house, where you acquire a house and rent the other vacant rooms/units to offset your mortgage payment. Usually lenders will lend you 45%-50% of your gross income so hopefully that gives you a ballpark on where your monthly mortgage payment would be.

@Carlos Valencia @Albert Bui

Since you haven't received a job offer letter yet, which you can still use that letter to qualify as you income. The letter must state that you will be for company X and will be paid $X. However, if you are trying to get preapproved right now while you're still in college, lenders would view you as a self employed earner and use your tax returns 1-2 years to qualify accordingly.

@Carlos Valencia @Albert Bui

Hi Brett! Happy to connect with you. There is an upcoming event on 4/25 called PNW RE Social that is currently looking for volunteers. The event is located in 2Lincoln Tower Bellevue. If you are interested we can talk more about it. 

@Albert Bui @Carlos Valencia

 Yes good point by Eliot. Also, you would want a realtor or lender that are also investors themselves where they can provide you the expectations and hurdles of an investor to mentally prep you when you go through the process @Albert Bui @Carlos Valencia

You can either clean it yourself to be scrappy and save money or hire a cleaning company to do the cleaning. Also, you do not have to have cleaners to clean weekly, only request to do a move in/out clean when the tenant moves out. You should deduct their security deposit and apply towards the cleaning fee @Albert Bui @Carlos Valencia