All Forum Posts by: Tuan Le

@Alonzo Garza I recently purchased my rental property and the requirement was 25% down + 6 months reserves. 25% down + 6 months can be a combination of cash, IRA, 401k, etc. No gift money allowed. I had a choice of 15 or 30 year mortgage.

You may want to try a different mortgage broker.

I'm on board!

 I was nervous at the last meetup because it was my first time.  Everybody was so welcoming at the meet.  Just meet and greet and you'll fit right in.

I'll be there at the meet!

hootsuite

Did you use a mortgage broker? When I was in the process of buying my rental townhouse, my loan officer immediately told me that lenders will look at the owner vs non-owner ratio.  He asked me if I knew the area and how many is owner occupied.  Of course, I didn't have the information so he sent out the condo questionaire which is required by the lender anyways.  He told me that condo questionaire takes a long time to get back usually few weeks.

@Curtis Bidwell @Brett O. @Lynn McGeein Thank you for the advice.  I acquired the tenant when I purchased the property.  I'll look over the lease agreement and follow through with that. 

@Nick Versetto That's what I thought when I spoke to the HOA. I was definitely stunned and confused. lol

I got my first HOA complaint call today about my tenant. He had left 3 sofas outside in the yard of the townhome. After receiving the call from HOA, I called the tenant and explained to him about HOA and how to remedy the situation. He understood and will take care of it.

What if he doesn't comply and I get fined for it?  Do I pass it down to him with evidence?

Is there a way to inform tenants of HOA rules and regulations?

I just checked out the site and I love it!

Are the data being pulled from 3rd party sites like Zillow, Redfin, Trulia, etc? How accurate would you say data are?

Congrats!  

Are you buying these property to buy and hold? Most MLS properties are deal breakers because of the price. What type of properties are searching for on the MLS?

Wow! Good advice @Arlen Chou