All Forum Posts by: Pilar Jin

Which range has better chance for cash flow?

I bought 1st investment at $240k, rented to a very good tenant at $2050. so I am happy. This time is different story since the property price goes up quite a bit, but not the rental.

Need your advice which price range to target.

@Mark Elliot.

Very good point, I do need to keep it in mind!

How can they find my credit report? I don't even have social security number. I would love to see my own report.

Hi Everyone,

I am seeking to buy my an investment property to achieve positive cash flow, targeting $250k - 300k SFH. As a foreign investor, I can only get 50-60% down, 2/1 ARM 4% mortgage from the lender finances my first purchase.

Shall I contact other small banks to see if they will qualify me for a loan? Will they see me as 2nd home buyer or investment buyer? The difference on down payment and interest rate is huge. My first mortgage is 40% down and 5/1 ARM 3.99%. Will they find out through their credit system that I already have one loan before and disqualify me to the loan?

Thank you all for helping out.

Pilar

Partner with Chinese wealth management company who shares with the same potential clients by providing more portfolio in their package and share some of the profit. They are also expert in getting money out of China. The only thing you can't move is the property, the rest you will be able to find a way to get around.

IC, new knowledge learnt! You are very patient with beginner. A lot of terms are confusing for me. Can you be kind enough to explain what does KC property mean?

Hi Jay,

Bridge loan is a bit too high for this purchase, but maybe an option for later years. Thank you for bring the idea to my radar.

Best Regards

Pilar Jin

Hi Sam, 

Very much appreciate your answers to my questions. 

I probably did not make myself very clear about my investment plan. The plan is to buy several properties in next 5 years. For this 2nd property, my previous lender would give loan with 50% - 60% down payment, 5/1 ARM 6%, 1.5% points. But for more, I don't think they will give. That's why I am thinking about move the 2nd property under LLC while buying and get commercial loans for later purchases since I've had a renting record.

Does it sound feasible to you?

Best Regards

Pilar Jin

Thanks for all the answers. I would like to seek properties in FL, but open to see other states. Would lend from other state work if I buy in FL?

single family home and or 2 units. 

Hi everyone,

My name is Pilar and started invest in property 2 years ago with a single family home in South FL. So I've got a little bit experience, a good team and enthusiasm in this field. Now I am ready to continue with the investment and seeking 2nd single family home or duplex. 

My first deal ran very smooth, but biggest challenge at that time was the mortgage for foreign national. As foreign national investor, the down payment will go up to 60% if I lend again from the mortgage lender.

Here are my questions:

1. Are there other financing available for foreign national without social security number?

2. Is the property better under my own name or LLC if the goal is to have positive cash flow to support quit job?

Look forward to hearing your kind advice.

All the best!

Pilar