All Forum Posts by: Maiko Miyake

and what's pay option ARM?

Anybody knows what this is? and how does that differ from a conventional ARM loan?

Hi rtcommunication.
I am looking in DC area. Thanks for sending me the link to testimonials, but I will believe it when they introduce themselves to me in person :wink: sorry to be a cynic.
You should certainly check the accuracy of your database in my area. I just checked back your website and noticed that the listing has not changed since six weeks ago when I was on free trial. And I know for the fact that many of the properties listed there are already on the market listed by real agents.

Ouch. but true. and indeed I am in the process of writing up a plan.

So Ryan, how did you get out of those "sort of" phase? when did you know that you were actually out of the "sort of" phase and actually have a "real" plan?

If I do interest only, I don't build any equity by making monthly payment. The only way to build equity is by appreciation. I also face higher rate fluctuation. :cry: A good side of the story is that monthly payment is so much lower. :D What else?

Could interest only loan be a good idea for an investment property that I am going to hold for cashflow for a while, under a certain circumstance? if so, what could it be?

Thanks everyone for insights. This has been very educational. I contacted two reputable lawyers and am waiting to hear from them. will keep you posted!!

Hi Ryan,

Whor are conventional lenders, and who are NOT conventional? any pros and cons?

Hi, anybody out there who succeeded in locating a deal with RealtyTrac? I looked at about a dozen of deals posted on the website last month, which were either pre-foreclosure or ROE, only to find out that they have already been through the entire foreclosure procedure and put on the market at market price, and some already been sold. So their description of the deals being "active" foreclosure property was not quite accurate... is it just my bad luck??

Thanks, and I would LOOOOVE to get any assistance!! I am looking in certain sections of Washington DC, where it is upcoming and in the process of gentrification. We used to live in one of those sections (when it was even rougher) and we still keep our former primary residence as a rental property there with positive cashflow. Since we are little more familiar with the area and prospect renters, we thought we would start with it. But the property price in DC is not favourable to buyers. In order for me to make a decent return (by this I mean it is better than keeping the money in high yield saving account) I need to buy at least 40-50% discount of the market value that I am seeing. For a novice, it sounds like a great challenge :shock:

Another area I just started to look is Bay Area. I know, it is again not a great place for looking for bargain deals. The reason is that I have a brother who is a carpentor living there. He and his wife are still renting. I thought if I could team up with them to buy 4 units apartment and have them live in one while renting the rest, and possibly increase value by fixing with the help of my brother, we could share some profit. I really want to do this, to help my brother, but I feel this is a kinda long shot proposition. I don't feel confident investing in a place I don't know - just yet, and I don't feel I can effectively teach my brother to look for a deal (when I even can't find one for myself).

Having said that, what do you think? should I be looking elsewhere?

Once again, thanks in advance for anyone who could point me to the right direction! And I can tell you that through helping me, you will be helping many of novice investors. My brother and his wife were totally enlightened when I shared with them everything I know about buying a real estate, and they felt a lot more encouraged about the prospect of owning their home. I was also able to help my friend re-analyze a deal which she was just about to put an offer - it looked like a disastrous deal that our discussion pulled her out of the deal. She is so grateful that she did not do it.

Thanks for this. The CPA I spoke to was also saying that I would not be able to transfer the deed, but he is not a lawyer and I will certainly check with a competent attorney. Is there a section on this website where I can find referrals of attorneys? I checked out Real Estate Services section, but did not find much...