All Forum Posts by: Traolly Xiong

I'm seriously thinking of planning to buy my 1st multi-unit complex property in 2020 and came across a lot of good content online and some events to possibly attend. One of the events is called the "Fire Summit" by the "ThinkMultiFamily" team.

https://www.thinkmultifamily.com/fire-summit-2019/

Anyone have any thoughts on if this is a good event to attend and get me going with some specifics steps to execute? I did not want to attend if it's just high-level content and meant to motivate and buy more expensive courses, etc. If not this event, any recommendations on events or ways of getting going?

I'm using the Bigger Pockets "Stack" method of going from residential (single, duplex, 4plex), now to commercial and would really appreciate any good feedback.

Thanks in advance.

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Originally posted by @Albert Bui:

There actually is a 5% down 2-4 unit conventional program called My community Mortgage or commonly referred as MCM Fannie Mae for primary occupants but the problem is that there are no MI companies I can find currently who will insure 3-4 units on the MCM 5% down conventional program.

So this leaves the only low down option for borrowers in the 2-4 unit property category to FHA and VA financing options.

FHA - has 1.75% up front + .85-.80% annual premium (paid monthly)

VA - has as high as 2.15% VA funding fee or 3.30% on subsequent use but no monthly MI

Normal conventional financing is 25% min down for 3-4 units and 15% down for 2 units and as low as 3% down for 1 unit primary.

MCM conventional is 5% down for 1-4 unit but again no MI companies will do (that I know of ) 3-4 units. I can do 5% down for duplexes owner occupied on this program - MGIC, UGIC, Radian, and others since I've last checked will insure up to 2 units primary occ.

Hope that helps.

Hello Albert,

Interesting info about the 5% 2-4 conventional program MCM. I'll have to look into it. If any other caveats or good things to know about this, other programs, or methods, let us know :)

Thanks.

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@Jeff Filali thanks for the website reference.

Anyone has any good websites on crime stats in any area?

Also if tenants moving in and out yearly of places a bad sign?

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Thanks for the insights.. Let me put some more thought into it. I plan to live there and I am currently local in the tulsa area. Pondering.... :)

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Thanks everyone. I'm looking to buy on Lewis and 71st in Tulsa. I know 61st and Peoria is bad but going towards 71st and down south it seems to get better. Any insights are fully appreciated.

Thanks.

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Looking to buy a property around the area to live and / or rent out. How do I find out if this area is safe and / or good to invest?

Any tips are fully appreciated.

Thanks.

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Great stuff my man.... Will do... Appreciate the response.

Thanks.

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Oklahoma City, Oklahoma

Any ideas on what areas around the Tulsa area is good to invest in properties? Owasso, Collinsville, Oologah, Claremore, Broken Arrow, etc.?

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Tulsa, Oklahoma

Any ideas on what areas around the Tulsa area is good to invest in properties? Owasso, Collinsville, Oologah, Claremore, Broken Arrow, etc.?

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Oklahoma City, Oklahoma

All Forum Posts by: Traolly Xiong

Traolly Xiong has started 2 posts and replied 10 times.

Post: Aiming to purchase my 1st commercial multi-unit complex property

Post: Owner Occupied Multifamily Financing with <5% down?

Post: Owner Occupied Multifamily Financing with <5% down?

Post: What's the best way to determine if an area is good to live/rent?

Post: What's the best way to determine if an area is good to live/rent?

Post: What's the best way to determine if an area is good to live/rent?

Post: What's the best way to determine if an area is good to live/rent?

Post: How's the Oklahoma area in terms of real estate?

Post: New to Real Estate Investing & Tulsa

Post: How's the Oklahoma area in terms of real estate?