All Forum Posts by: Albert Hasson

I agree it's a frustrating rule but as a long term investor it doesn't bother me that much because an OO buyer will be engaged in the neighborhood and stabilize it. I don't want to be invested in a neighborhood with a high percentage of rental homes.

Mike P, sorry but I can't not comment on your severed relationship with your stockbroker. The s and p is currently at its highest level since some time in 2008 so your brokers advice was actually right on.

Yes, if you choose a 30 year term. You can also choose a 15 year loan. I am not sure about availability of other terms. Lance, you could probably answer this better.

Chris, LTV about 150%

My rentals are in upper middle class established neighborhoods. I just had one tenant give notice and had it re rented next day with $100/mo rent increase! My vacancy rate with 17 properties is 0. I don't use Craigslist, I use an agent to put my properties on the MLS. My impression is there are not a ton of houses for rent in great neighborhoods. Hope this helps. Have fun here in March, it's the best time of year in AZ.

First of two HARP 2.0 refinances closed last Friday. Used same mortgage servicer (Flagstar bank), no out of pocket closing costs, 4.375% 30 yr fixed, saving $220/month. Hoping second loan closes soon.

I have two properties in underwriting now using HARP 2.0. Hoping to close soon.

Only a 1, that's right, ONE month supply of REO's here in Phoenix and it has been that way for two quarters now. We are a non-judicial state and have been unaffected by the robo-signing controversy.

As far as the so called "shadow inventory" and coming "wave of foreclosures" I have been hearing that for years and it has not happened and I doubt it will happen. Our level of homes 90 days delinquent has been falling for at least a year now.

Agree with Johnson H, we have turned the corner here in Phoenix. Haven't seen anything decent to go after in the last few months.

What's the housing market like in So Cal?