All Forum Posts by: STEPHEN YUAN

Clayton county, Georgia is #2 on Passive income return national wide. 

Double down on your time and effort to learn more about Real Estate from biggerpockets!

Does direct mail/post cards works for mortgage brokers at all??If not, what works?

http://www.biggerpockets.com/forums/99/topics/1535...

According to USA Today...below are the top 10 rental real estate markets:

(They looked at annual gross rental yields from RealtyTrac as their basis)

10. Hernando County, Florida

9. Pasco County, Florida

8. Columbia County, Florida

7. Wayne County, Michigan

6. Spalding County, Georgia

5. Putnam County, Florida

4. Howard County, Indiana

3. Duplin County, North Carolina

2. Clayton County, Georgia

1. Edgecombe County, North Carolina

Ha! I guess Fresno's still good. I'm assuming you found this post through keyword alerts?

Thx for sharing~ This was the article that I missed a few weeks back on biggerpockets and couldn't find. 

BTW, I've partnered up with a friend to invest in #2; Clayton County, Georgia.

1.Listen to the biggerpockets podcast
2.Read biggerpocket's ultimate beginner's guide and I think there's a flipper's guide too. 

If you do one and two, you will gain a lot of education before find that mentor through meetup or biggerpockets gathering. I'm in the process of buying properties out of state with my partner/mentor and I feel like I can keep up with him just because I did above two. 

If you are going to "keep the really good ones as rentals", define what's good for you.(4% return or 20%,Brandon of biggerpockets says he can get 15%).  

Frankly, the high rental return properties and the high gain properties are in different areas of California. I'm actually not too sure high rental return still exist in cali except in Fresno according to one of the podcast. 


Good luck, and let me know if you need a mortgage somehow.

I don't think the lenders would have any problems with the quit claim but what about title insurance? Doesn't a quit claim nullifies the existing title insurance and thus C would need to buy a new one to be protected? 

Scenario:
The property is located in Georgia, South Carolina, or North Carolina. 

Person A owns 50% of the property.
A is the responsible for the mortgage on the property.

Person B owns the other 50% of the property.

B is not responsible for the mortgage AT ALL; he/she's an non-obligated borrower.

If B wants to transfer his ownership to C through quitclaim deed, is there going to be any problems with? 

1. The lenders?
2. Title insurance

Any other problems?

I'm gonna turn around and say pay them evenly everyone! @Roy N. comment just reminded me that early payments goes mainly towards interest! I remember it's 66% interest and only 33% principal in the first year. The portion for interest gradually gets reduced to 0% at the end of your term. 

Therefore, I think the best solution here is to pay them all down pretty evenly. Try giving the youngest loan a higher weight while doing this.

Example: If youngest loan is about 40% of total mortgage owed! Try applying something like 1% extra so apply about 41-42% of all the money you have for paying down. 

I am assuming your youngest mortgage is only about 6 month younger than the older siblings. 6month/360month=1.6% ----> This is why I used the 1%. 

You can just pay 1% extra towards the younger mortgage and save yourself the hassle. 

@Brandon Hicks has a good point too! Pay off other higher interest rate debt first!