All Forum Posts by: Minh Nguyen

My major is mechanical engineering and I'm a mechanical engineer right now, so I didn't stray very far from my major haha. But I guess that can be used as a story for using my education as part of work experience. It's great that you had a lender that was able to look at your situation creatively. 

I plan to drive my paid-off car for another decade or until its last breath, whichever comes first, so have no car debt luckily. I have no debt of any kind whatsoever--and I still feel nervous about taking on a mortgage with less than 20 down, so I completely agree with you about not being over leveraged. 

Thanks for the encouragement!

I'd love to know this as well. If I try to chase the 70% rule on some of the properties I'm looking at on the MLS currently...I'd end up having to send in offers waaaaay below asking.

 Hi Melvin, thanks for responding. I will be reaching out in a message.

 How have the recent ones been doing g in attendance?

I'll be joining next Wednesday, since I can't on Sundays

@Matt Leber what strikes me as odd was that she differentiated "cost to close" from closing costs. So she quoted the "cost to close" IN ADDITION to closing costs and an appraisal and inspection fee. Is that normal?

@Matt Leber, I would love to hear more about what your experience was and how you navigated investing right out of college.

One more thing--this broker also mentioned a "cost to close" that was about 6% of the amount of loan we were projecting during our discussion. I didn't understand what she meant so I asked her to clarify whether this is the same as my closing cost and was told no this is something else i needed to pay when getting a loan, and I'd have to worry about the closing cost also.

Can anyone help me understand what a broker's "cost to close" is?

@Fred Shatzoff I'm a FTHB buyer like Chris guessed, and I'm just trying to buy a condo to live in one room for a couple years while renting out the other rooms. I plan to move out after 2 years and continue renting out all the rooms.

@Chris Mason thank you for the detailed answer! I didn't want to jump to conclusions without understanding more about scene.

I'll continue to call around so I can at least have a larger sample to compare from. I'll definitely reach out to Melvin as well.

@Ben Bartels If those are still weekly reoccurring, I'll be joining next week!