All Forum Posts by: Yeng Hawj

Is there a yearly max on how much the principle can be paid down each year (in addition to regular mortgage payments)?

I'm here trying to look for deals while these guys seem like they're just going for anything.  That all totally makes sense, like the funnel strategy, go as wide as you can, it always narrows down.  

I've received two mailers in the past week, and others in the past regarding cash offers at market value to buy my property with no hassle on my end.  My question is, what is their strategy in trying to snatch up more property given housing prices are climbing high, and a correction in the market may be looming?  

I'll be interested in joining the meet up as well.

Looking for ideas on refinancing the homes I currently own, and take out cash for either BRRRR or purchasing multifamily units. Here are the numbers:

Home#1 (Primary)
FHA Loan, 140K left
Estimated value, 330K

Home#2 (Rental to family)
Conv, 160K left
Estimated value, 440K

Home#3 (Secondary but used as rental for family)
Conv, 240K left
Estimated value, 330K

-How much equity can I take out on each?  I did a rough calculation of (70% of value - loan amt) and came up with around 238k?  
-What other creative ways are there that I can do with the equity to make it work for me?

Sorry for being so general with the numbers.  Any insight and help is much appreciated.  If you need more info let me know.  TIA.

Yeng

@Dmitriy Fomichenko Thank you for the warm welcome and the resources.  The resources on this site along with its members has been so helpful.

@Brad Faria yes for sure.  I'll be interested in hearing of your triplex and what you've learned from that experience as well.  

Thank you @Jo-Ann Lapin for the offer.

Hello BP community.  My name is Yeng Her and I live in Elk Grove CA.  I currently work in the government industry, as with many that lives in the Sacramento region.  My background is in engineering, and I have been on the linear career path up to this point. I’m trying to find ways to disrupt that, and I think real estate can really be the solution.  My current real estate portfolio includes three single family homes and one 40 acre parcel.  I was introduced to BP by a close friend that’s a real estate agent.  Since coming on here, I’ve only had the chance to listen to the podcast and so far it’s taught me more than what I thought I knew about real estate.  I’m looking forward to meeting other BP members in my area, learning more about opportunities and achieving my financial and life goals.  

Yeng Her