All Forum Posts by: Jimmy Hong

Brian Smartt, I'm fairly new myself but found tons of info regarding this matter, check out this forum:

http://www.biggerpockets.com/forums/52/topics/14637-how-do-you-screen-prospective-tenants-

Hi Zac Gilliam and welcome to BP. This place is the best, I'm fairly new myself and already learned so much. I recommend just ask questions and keep browsing the forums and blogs. Tons of stuff here.

Haha, I hope you're joking Ned Carey.

Thanks for your input Ned Carey. Another company gave $1075 doc fee but interest rate is higher at 12.5%. No offense Ned but I'm pretty happy with my rate considering the rates you are stating in your area.

Hello fellow members,

I recently completed a flip, found another property and its in contract. But want to use HML to rehab 2 properties at a time (at least not have to wait until property is sold).

This will be my first time using HML. What do you guys/gals think about this rate? I called couple of companies and this one was best so far.

65% of loan, I will pay 35% and rehab costs.
10.49% interest rate
2.65 points
$1,275 doc fee

Thanks in advance.

Jimmy

Thanks for the update Dawn A., nicely done.

Hi Brian Smartt, I agree with all the good advice given, if you don't HAVE to move, then don't. But if you must... it sounds like rental over selling for loss. At least you can cash flow, even if its a little bit.

Also, doing your own property management will definitely increase your cash flow but having a professional team can help screen out potential bad tenants and help keep your high end property in shape. Do you have the time and know how to screen quality tenants or do you want to pay someone to do it?

Hello all,

Do you use your lender's escrow for payment on taxes monthly (together with your mortgage) or pay on your own for your rental properties?

Thanks,

Jimmy

Yea Brett Burnham, I agree because I know how much SFH can cost in Nova. That high of home prices are similar here in Orange County, and is horrible for cash flowing investments. That's why many purchase out of state properties.

Matt Devincenzo, well said and great advice.