All Forum Posts by: Pearl He

@Max Matrin Where would you get loans for repairs and rental based?  Thanks!

I am new to real estate investing, but somebody suggested that since I am able to cash out 400K, that I should purchase a ~700K multifamily property for rental income.  I am not able to get additional conventional loans after the 400K cash out, but he had mentioned that multifamily property loans would qualify for rental income based loans. 

I don't know anything about rental income based loans, can someone tell me the steps to get it, the fees involved, the loan amount, and the approximate rate u get from it?

Thank you in advance for your input!

@Ali Boone  I meant that my income will limit how much loans I can get.  I am only talking about conventional loans, as that is the only method I have been using and understand.  I know there are so many other types of financing, but I feel a little overwhelmed. :-)

@Manolo D.  Thank you for the great suggestion! Definitely something for me to think about.  I was thinking about cashing everything out too, because it looks like cash speaks to everybody now.  When you say 50% equity, what do you mean? and could you explain a little on how B2R financing works?  Thanks!

@Manolo D.  I have about 150K in cash, and would be able to either cash out another 200-250k from my other 2 houses, or another mortgage of the same amount.  So this will bring me to a total of ~400K to purchase my property(ies).  I've also heard about B2R financing, but not really sure what that is about.

@Account Closed  Thank you Rudy for the post! Currently, my goal is invest in enough houses, that later on, my assets will start to build up.  I know this is very vague, but I do see that real estate is a sold investment that will give good returns.  My current situation best allows me to use rental income, but that seems to me a very slow way to build up wealth.

@Ali Boone

Thank you so much for that article!  It totally made it clear to me the different ways to invest.  Because of my situation, a full time job and two children at home, I feel that the one method that makes the most sense for my family is rental income.  The only thing I don't like this method is that I am not able to acquire that many properties, because the loans are limited to my income.  For as long as I own the property, I cannot use that money to do anything else.  And I don't see how I can get around with it unless I start flipping houses. 

Thank you all for your quick and informational posts!  So here is a little about my situation. I currently own 2 houses, and have about $150K saved in cash.  My loan agent told me that based on my family's income, we now only have the capability to get another conventional loan in the amount of 200-250K.  I live in Los Angeles, and was thinking about purchasing an investment property in the area to rent it out, while waiting for appreciation.  But looking at the current market near LA, the money I have won't get me a decent property.  

I recently have been thinking about investing in Las Vegas, NV instead.  It seems that Summerlin and Henderson still have growth, but most houses in the good neighborhood of Henderson are already priced high.  Summerlin however does seem like a good place.  I saw some houses ranging between 150K to 350K.  I have been trying to decide whether to buy a property in Summerlin for about 250K, or to purchase lower priced property in not as good neighborhood.  My concern on buying property in Summerlin is whether it will be difficult to rent it out later.  I have heard some horrible stories about rentals in Vegas. However, I would not want to carry the mortgage on my own. 

I would love to be able to start investing, but I am not sure how everybody is doing it.  It seems to me that if I were to acquire another property and rent it out, my money is locked again, which means I won't be able to continuously acquire new properties.  Am I missing something here?  I see people that have so many properties, but is that all from flipping houses?

Thank you!!

Hi everybody, I have some cash saved to do an investment, but I would like to take out more loans to purchase more expensive properties if possible, or at least to keep my options open.  I would like to see what different types of loans are available for investors, and the pros and cons for them.  Thank you!

Hi all! My name is Pearl and I'm new to this forum.  I'm so thrilled to see there are so many people that have similar interests and questions as I do.  I am in Southern California, and the housing price has skyrocketed in the past couple 3 years.  It seems to be somewhat steady now.  I just wondered what are all your thoughts on investing in SoCal at the moment, and if there is any suggestion on where to invest, the types of properties, and the method of investment (i.e. renting out, flipping).  Thank you!