All Forum Posts by: Thomas Lam

@Ashley Pimsner, thanks and I have been following Dave with his teaching and I think I need to be more clear that I am looking for private lender to help me with creating a note for my rental.

Didn't mean for the confusion!

Thanks,
Thomas

Hey there BP,

I am looking for ways to create a note in my rental property which I own free and clear, can someone direct me to right direction please?

Thanks for the help!

Thomas

I would love to join the group for the next meetup as well please! Thx

Hi guys, I am exciting to meet OOS investors in the bay area. I am also interested in Indy and AL area for B&H and flips and I can learn a ton from all of you. Would love to setup a meet with all of you. Please let me know if any of you guys interested, I'm in Oakland during the week but I can be open to meet anywhere in the bay area.

Look forward to hear back from you guys and best of luck!

@Matt Pritchard, sent you a PM...........I'm also interested in KS market and would love to chat more.

There are more event if you look under "Network" then "Event", but there are kinda far from where you at but def worth checking out. I'm going to the one down at San Jose this coming Wednesday. Hope to see you all there!

Also maybe post a forum to invite all the people within the CORE 4 (PM, RE Agent, Lender & Contractor) to meet out there. I'm sure there are tons of BP member in those area that willing to meet and chat with you.

I'm also looking into Midwest as well and love to know your turnout. Please keep me posted. Best of luck! @Ernesto Hernandez

Thank you for everyone input, the loan belong to M&T bank (80%) and US bank (20%) which is line of credit. I will look into FHA Streamline and HARP but however, we have not missed any payment on the mortgage and my wife income is high so I do not will she qualify for the program.

What are the requirement for the 2 program for modification or refi? Anyone can share?

Thanks

Hello to all BF members, I have a rental property in Germantown, MD which my wife bought back in 2005....... I believe some of you know where this is going...... and yes the property is under water! She bought it for $340 and now it only worth around $260. She financed with an 80/20 ARM loan and was up 2yrs ago, but luckily interest rate staying low so we manage to have low enough mortgage.

We have been fortunate enough to have a tenant in there since 2013 and currently have a 2yrs lease but the property never generated any cash flow, so we are thinking about short sell the property.

Several questions I have regarding this property and seeking for advise from anyone here in the forum:

1.What are some options we have for the property? Hold? Short Sell it?

2.Are they any way we able to refinance or modify the loan to a fix 30yrs without come up with any money?

3.If we do have to short sell it. What will be the process? I have never done short sell property so have no experience of it.

Any suggestion and advise I would be much appreciated. Thanks everyone!!