All Forum Posts by: Paige Yu

Thank you so much @Andrew Postell! Your answer is so helpful! 

Can I ask a couple follow-up questions - 

• Can the lien be filed at any time? I closed on my property a month ago and my LLC is not registered yet, and some rehabs are being done, will it work if I register my LLC and file the lien now?
• Is there a best timing to file the lien? If the lien amount is to include the rehab cost too, as I learned from previous discussion in this post, would it be best if I file the lien after rehab is done or file a lien on estimated rehab cost before rehab is actually done? 
• If the appraisal value for the property came out to be a lot higher, for example $110k for a property I paid $60k for, what would be a better loan option - "rate and term" refinance or wait for 6 months to get a Fannie Freddie loan? 

Thanks again!!

Paige

Hi Andrew! 
Thank you so much for sharing this great knowledge! This is extremely helpful to me.
I have a question - is there a lower cap to the appraised value? For example, if I bought a property for $60k cash, my LLC put a lien on it, and the appraisal value comes out to be $70k or $80k -

1) is this situation still eligible for a refinance ? 
2) if yes, will the cashback amount be 75%*$70k , or 75%*$80k (if appraisal value is $80k) ? 

Thanks so much Andrew!

Best,
Paige

Hi! 

I just started to invest in Kansas City, and I am about to close my first property. :) The inspection period only has 3 days left, and I am a little concerned about the insurability of a house that is partially on Knob & Tube wiring. Inspector mentioned the wiring is working fine and there is no need to rewire. Has anyone got a house like this covered? 

Thanks!!

Paige

@Joel Fine thanks so much Joel for sharing! This is really motivational! When you say your multi-families all have been on MLS and no off-market deals, did you mean you found them online? Can I ask what areas are you focused at? Do you tour the properties in person? I see you are like me, investing from CA :)

Thanks much!

@Meredith Mihm

Congrats on the first deal! Sounds like a great deal !