All Forum Posts by: Matthew Kwan

Thanks for sharing the pains with us and yes #3 is straight up facts. How are you shifting from avoiding these mistakes in the future?

@Albert Bui @Carlos Valencia

Firstly never use DRANO as it hurts your pipe and might burst. Well the $150 is to just show up but yes if I was the landlord i would have to eat the cost but would have clear expectations and let the PM to know when to seek 3rd party help. However, to their defense they could state "WE ARE NOT PLUMBIMG EXPERTS" and are not responsible to fix the plumbing due to liability but that really comes down to your dynamic with your PM.

@Albert Bui @Carlos Valencia

HI Derrick,

You could probably consider being a realtor or property manager assistant to get your hands dirty in the industry. However the best way is to get in the door by acquiring one so maybe house hack. I know housing prices in DC can be scary especially Georgetown but maybe Virginia or Maryland since it's like 20-30 mins from the capital

@Carlos Valencia @Albert Bui

@Account Closed

Yeah perhaps partner with local wholesalers and make sure to also have a reliable lender where they can help you acquire hard money and exit from it to conventional.

Let me know if you need any recommendations, I'll be happy to share via message 

@Albert Bui @Carlos Valencia

I did FHA with 3.5% and was able to land a triplex. There are multiple ways to strategize your first deal however make sure the number works. If you're bleeding cash on your first house, it would lead to a nightmare and maybe will keep you away from the RE game. You should try reaching out @Albert Bui or @Carlos Valencia as they both are in OC so if you need any guidance to start your house hacking journey feel free to reach out.

Stocks requires less capital and lesser restrictions where anyone can invest as long they have a bank account. It is definitely more liquid than real estate when you need the cash. However, real estate i would say it's less volatile than stocks and you can have consistent cash flow (earnings) when all goes well. As for stock, it's not in our control where the market is all monopolize but still diversifying your portfolio is never a bad thing. @Carlos Valencia @Albert Bui

Both are good strategies to go. The tradeoff with FHA is min down as low as 3.5% however there is a upfront mortgage insurance premium the mortgage insurance premiums (MIP) will not be removed for the rest of the loan amortization. It will only be removed if it it's 10% or more then MIP will be expired after 11years of it's hits 80% LTV and you would have to refi it out in order to reuse the your FHA privilege. As for conventional, it requires more down payment than FHA but the PMI can be removed once it hits 78% LTV automatically.

@Carlos Valencia @Albert Bui

@Albert Bui @Carlos Valencia

 Agree there's a lot of resources and look for states with a projection for the next 5-10 years that as high growth with high density population with limited housing @Albert Bui @Carlos Valencia