All Forum Posts by: Huy Thai

In my experiences, @Richard W., the appraisal does not jump to reflect your purchase price if it's higher than the appraised value. Conversely though, when I purchase a property for less than what the appraised value is, I use that as ammo to protest my appraised value to reduce my property taxes. 

Yes you are right, the rates in Harris county and all of Texas for that matter is high!  ~3% makes or breaks your cash flow. Even when you pay off the home, the tax bill feels like a small mortgage- but never ending! 

@Tushar P. I'm not sure there is a product available for investors to put down less than 20% AND have a 30 year fixed. if there is one out there, it would most likely come with PMI fees. I know some banks have in-house products that allow for 10% down but they are ARMs. I've almost maxed out my number of loans with Fannie and noticed they are getting stricter with the more properties that are mortgaged so I'm happy to have gotten the terms I did. If you or anyone knows of a product that can offer all the great terms and less than 20% I'd love to hear it!

I guess I’m a bit different than the rest as I prefer to put in all tile in my single stories and the downstairs of my two stories. I’m buying the inexpensive wood look tile from floor and decor ( .80 to .99 sq ft) and my all in installed price is less than some are mentioning for good LPV product alone. Like all investors, I want to avoid replacing carpet time and time again.  Here are some examples...

I’m about to close on a deal in a few weeks where I’m putting 20% down, 4.5% fixed for 30 yrs, 0 points and no origination fees. I achieved this by putting lenders against each other that offer $1000 price match guarantees. They also offer the float down lock which will drop my rate another eighth percent should rates drop a quarter which they did last week. Great rates are out there... you just have to find them! 

@John Underwood I agree Excel is a powerful and very useful tool. I find management software an easier way to keep track of tenants, properties, expenses, files, etc.

Do any of you use the cloud software, truerent.com?  I have a question about how you record escrow payments especially to report as an expense. I have asked support but they are very slow to answer. 

are you still wholesaling in OKC? if so please add me to your list [email protected] 

I recently used TDECU for a cash out refi and would use them again. 

This is a first for me @Wayne Brooks to see a statement like this. I’ve requested the owner 3way a call to the mortgage company to get the answers I need. 

I'm trying to put a property under contract that the owner has a reverse mortgage on. The owner is not much help on how to decipher the statement so I'm hoping someone in BPland can help. I see the box to the left which is the loan and a box to the right of that which is a credit line. Does the credit line pay the mortgage payment? Is the total amount of payoff per this statement $116K? or is that in addition to the $53K "current line of credit loan balance?" If the total is 116K I'm golden but adding a credit line payoff kills this deal. What is even more confusing is the -10K "current principal limit and current line of credit." Why so cryptic? Can someone please dumb this down for me? Thanks!