All Forum Posts by: Sean Zhang

Just another thought on this - since you didn’t mention it in the original post - remember equity to a lender is viewed through percentages not dollars as most people think about equity. For example - an investor may look at a property and think “I have $80k in equity sitting in this home” because they take the appraised value and subtract the current mortgage balance. For a lender - we look at that same scenario and think “you have only 10% equity in that property so we can’t do anything” because they want to still have some equity buffer above their loan. They most likely aren’t lending to 100% if the value of the property - especially in an alt doc loan situation. I would say if your current mortgage is 70% or less of your current appraised value - a second mortgage makes sense and it’s worth the time and effort to find an alt doc lender for a primary residence. If you are 80% or more - you are likely going to have a hard time finding a lender and if you do will the amount you are going to get be worth the time, effort and fees associated with that loan.

My income are from oversea, all non-taxable. Have only 50% or less mortgage.

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I would like to access my primary home's equity to purchase investment property. I can't provide income docs, DTI is also not going to work in traditional way. What option do I have? Thanks

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@AJ H. You own all the properties under one LLC or one LLC for each property you own?

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@Andrew Schutsky Hi, Andrew. Not interesting in Syndication, either by myself or partner.

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@AJ H. Thank you!

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Hello

I live in CA, and if I am going to invest multi family property in FL or any other state. WHERE SHOULD I REGISTER THE COMPANY TO HOLD THE PROPERTY? In CA or the state where the property is?

Thank you

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@DJ Dawson Hi DJ. This is a 36 unit apartment building.

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@Shannon Robnett Hi Shannon, thank you so much for your advice. That is why I post this question. I know doing business is not easy, especially real estate(compare to other businesses I am doing). This post help me gains lot of knowledge, I am glad I ask question here.

I will find partners for future investment.

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@Ola Dantis Hi Ola, thank you. I agree with you. Right people make us grow and strong. I partnered with my friends in other businesses before. So there is no reason for me to don’t partner with others in Real Estate investing.

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@Danny Randazzo Thank you Danny. I have more confidence for the future deal.

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All Forum Posts by: Sean Zhang

Sean Zhang has started 3 posts and replied 21 times.

Post: Advice needed! Can't access my equity.

Post: Advice needed! Can't access my equity.

Post: Where should I register a company for multi family rental?

Post: Where should I register a company for multi family rental?

Post: Where should I register a company for multi family rental?

Post: Where should I register a company for multi family rental?

Post: Multi family funding/finance question

Post: Multi family funding/finance question

Post: Multi family funding/finance question

Post: Multi family funding/finance question