All Forum Posts by: Thao Kieu

Hey guys, look around in Newark, East Orange, Paterson...for a decent neighborhood with much lower range than other town around from 100k to 200k, tax still high from 7k to 11k. I am actively looking in these town for my next rental. Good luck with your journey.

 Hi Percy

Yes few flips could help to enhance cash or using BRRRR is another option. I have talking to traditional banks and still trying :)

 Someone has said if you get to this point being rejected by lender because you have many mortgage you's officially professional investor and it is time to think out of the box for options to keep moving. This is what I am looking into right now. Thank you for mentioning land contract.

That number is more than a thousand words, especially for Joshua, the man who started this forum, struggle to find the knowdelge, the answer he needed when hit the roadblock & could not find it anywhere.

Congrats Joshua & Julie for your success, congrats BP community, we all thanksful & happy to be here to learn, to network, to connect, to grow together.

Enjoy your day all.

 Thank you Odie very much for your kind words, always want to give what I would like to receive.

Thank you very much, I am in NJ though.

I hear a lot of insane stories like that about lender but I think in the end, it happened in our favor. A friend of my in RE class had the lender asked her to knock down the garage just because it not up to the code or something, she finally let them go & found a new know who never ask about the garage.

Good luck with real estate investing & thank you for taking your time to share your story.

Yes Jonathan

I will look into as many as possibilities as I can, I am sure "Mr Right Lender" are out there.  Just just bought the other 2 properties within last 2 years so equity is not enough to pull. Will keep kissing frog until I find my prince (Lender).

Have you ever being told by lender that you have high debt ratio so you not qualify for another mortgage? The feeling being rejected is not fun & that is how I feel right now.

I have one single home in DE currently on Airbnb for short term rental for people who travel for work, my mortgage is $1000 as I do 15 years term & income range from $1000-$2000 depend on good month & not so good month & another single home in NJ as my primary. Since the short term rental works out so well, I would love to continue to investing in real estate & being 'one night landlord'. But I hit roadblock at the moment, bank door pretty much closes to me, hard money lender won't talk to me neither cause I don't have 'skin in the game' so what do I do?

Shut my computer & rest as my husband keeps telling me in last few days cause I am sick, fever & sore throat knock me down but I could not hand off my computer & stop digging on MLS for a good deal.

I won't give up & I refuse to give up, I will crack the code & find a way that will work. How? I don't know yet, I will keep BP posted once I buy my 3rd property.

I came from Hanoi, Vietnam who being tenant for most of my life there, the room size was as big as a king size bed here, friend not allow, get home before 10PM (gate closes) if not I am on my own rule drove me nut & especially rat running on the ceiling as soon as people turn off the light, one night they bite through the ceiling & fall down to the floor, I woke up because of that noise, at the moment I told myself, if I ever become a landlord, I will be a cool one, my tenant will never have to wake up because of rat.

Many years later I did become a landlord in US provide short term rental for my guests & I am proud of myself. This journey is extremely incredible, met a lot of amazing people who still leave a good impact on me till now. 

Who faced the same issue with financing on your journey of RE investing? Please share your story & let people how you overcome it? 

If you did, congrats.

If you still trying to figure it out don't give up, I know you will overcome it like I always believe in myself, if I set my heart into something I will be success. Just a matter of time.

Thao Kieu

 Sure, thank you very much.