All Forum Posts by: Matthew Kwan

Thanks for sharing Rylee! That's awesome that you were able to single family and separated the electrical panels to convert it into a legal multifamily property. What are your plans moving forward to expand your portfolio? @Carlos Valencia @Albert Bui

Or you could try looking into DSCR loans as it only looks at the rental income of the subject property and reserves. As for full doc loan, it will look at your employment history and income which it will have influence towards your DTI @Carlos Valencia @Albert Bui

Yes as a buyer/client do not feel obligated to sign anything if you are not comfortable working with the agent. An agent that represents can be crucial as he/she will do due intelligence for you whether it's a house to live or invest. If your agent does not align with your goals then it's a waste of time for both parties. @Carlos Valencia @Albert Bui 

Thanks for sharing . Yeah i heard the winter storm over the east coast right now is dreadful @Carlos Valencia @Albert Bui

Definitely go for house hack either using FHA or conventional. As you mentioned "limited capital" if you purchase an investment property it will require you more down. How are the properties over in WI? Since you have to live one room/unit I would try to find a house that would have at least 3rooms ++ so you can have at least two tenants and receive rents @Carlos Valencia @Albert Bui

The traditional true definition of househack would apply towards multifamily. However, if you are in a expensive market like CA, NY, WA etc it would be hard to own a multifamily nowadays which is why everyone is leaning towards untraditional househack on single family. I personally prefer multifamily where it tends to depreciate more and has its own separate electric meters vs single family you need to split it with the tenants. However, single family is more affordable where the numbers feasible and realistic to achieve + cashflow while living there. @Carlos Valencia @Albert Bui

High yield savings is better than traditional savings account where i only get $0.01/month but high yield you get up to 3.2% depending what bank you use. Even during COVID i was getting around 0.50% APR @Carlos Valencia  @Albert Bui

Congrats Tyler! 4bd 2b for $385k must be cash flowing! Yes 2-3 months is ideal as you won't be dealing that much headache with the high turnover of move in/out.  If you're willing to provide fully furnished units then it will secure a higher demand for people who are travelling there for vacay, work, interns etc @Albert Bui @Carlos Valencia

@Albert Bui 

I would recommend you watching the podcast from BP or YouTube channel by Cody Davis. His niche and specializes on seller financing. @Albert Bui @Carlos Valencia