All Forum Posts by: RD Delgado

Brendan,

 I'm happy you're taking the initiative to make the most of what sounds like an incredible opportunity.  RPV has always been a hidden gem, not just in the South Bay, but in all of LA.  

+ 1.  I'm curious as well!

Hello Bigger Pockets Lenders and Investors!

I wanted to see if anyone has experience with the new HomeReady mortgage program.

http://themortgagereports.com/18653/homeready-mortgage-guidelines-interest-rates/

In addition to hearing your general impression, I wanted to know if there was a map of areas in which one could use the HomeReady program.  

For example, the program is available in areas with high concentration of minorities. It is also available in "designated disaster areas" as determined by FEMA. Both of those qualifications could allow much of southern California to qualify. But it would be immensely helpful if there was a way to more specifically determine which areas would qualify, e.g. a map.

Any ideas from lenders or active investors in LA like  @Sharad M. @Albert Bui @Logan Drew or others whom I'm unable to tag @jerrypadilla @joffreylong @billevans?

Thanks in advance.

RD

@Geo Tan Understood. We're currently actively looking at house hacking now.  So if you want to continue to compare notes as things progress, don't hesitate to reach out!  In the meantime, there's a wealth of info on Bigger Pockets on this exact topic, so your time educating yourself here is a great investment!  

Happy hunting!

@David B.Yup.  I hear ya.  But it sounds like you'll have enough of downpayment to get into a worthwhile property.  Do you want to live in the property or just manage it?  What part of town are you looking in currently?  I'm focusing on the "Greater Pasadena Area."   

Hey @David B.,

Congrats!  It looks like you're looking to improve upon an already good situation!  Great.

Your interest rate is already low, so refinancing may or may not be a good option; but have you considered leveraging your cash in combination with some of the equity in your current triplex in order to purchase the second property you intend to purchase?

Hey @Geo Tan,

Congrats!  Are you looking to live in the property that you purchase, a.k.a, "house hack" or are you simply looking to purchase an income property?

RD

@James Wise Yes!

Let's tag them to spread the love!

I already tagged #1 above (Bigger Pockets, @Joshua Dorkin, @Brandon Turner

#2 - Cody Sperber (@codysperber)

https://www.biggerpockets.com/users/CodySperber

#3 - Sean Gilliland (@sensei) and Black Belt Investors were #3!

https://www.biggerpockets.com/users/sensei

https://www.biggerpockets.com/users/bbinvestors