All Forum Posts by: Rick Kim

@Adam Gollatz Thanks Adam. I understand your point and perhaps I should have provided more details in my original post. I often drive neighborhoods twice, once in the day and once at night, specifically to identify vacant properties. I found that the majority of ones I thought were vacant actually turns out to be occupied. I would imagine the success rate isn't very high with these but thought I'd ask anyway.

@Bryan Wegman Strictly based on the current interest rate environment and the rising 10 year US benchmark rate, the 30 year fixed option may prove to be more beneficial than the 5/1 option. More importantly, however, it really depends on your investment timeline; if you plan to portfolio the property for the longterm (at least 10 years), the 30 year fixed is the way to go. Also if you choose to refinance someday, seasoned mortgage loans can easily fetch more competitve rates in the future. In the short term, you must factor in finance costs each time you refinance. Even if you're in it for the short term, in today's rising rate environment, the 30 year option is your best bet.

Is it worthwhile to contact property owners when it's apparent someone (owner or tenant) still lives there? I'm in the greater Los Angeles area.