All Forum Posts by: Calvin Kwan
Calvin Kwan has started 50 posts and replied 240 times.
Post: Looking for 2nd loans for Berkeley & Oakland du plex and 4 plex
- Oakland, CA
- Posts 246
- Votes 127
Shoot me your email via DM - I'll send out an intro tonight. HELOC was the way to go for me as well since the rate for my 1st was killer.
Post: Looking for 2nd loans for Berkeley & Oakland du plex and 4 plex
- Oakland, CA
- Posts 246
- Votes 127
I'm getting a HELOC on my investment property from HSBC. No fee and promotional rate of prime minus 1.51 for the first year, then prime + 1.47 beyond. Let me know if you want my loan officer's info. Thanks.
Post: Converting Single Family to Duplex or Triplex in Oakland
- Oakland, CA
- Posts 246
- Votes 127
Have you checked the zoning in your area and is your lot size big enough?
Post: Bank Loan Options for Investment Prop Refinance w/ Cash Out
- Oakland, CA
- Posts 246
- Votes 127
Originally posted by @Carlos Goulart:
Hello BiggerPockets community.
I'm looking to refinance a 2- Family (non-owner occupied) investment property with a cash out option to help finance another future investment property. Is 70% LTV a standard or are there banks willing to go higher, like 80%+ for example. Would it be better to find an online lender or will I have better luck with a local lender (I live in MA)? I got one quote back so far from Rocket with a rate of 4.99% and closing fees of $8.8k. This seemed quite high. Is this the average I should expect or should I keep looking for something better?
I appreciate everyone’s time a look forward to hearing people’s thoughts.
I'm getting a HELOC against my rental at HSBC. Getting prime + 1.5ish. No fees. They also have a promo rate for the first year. Check it out or let me know and I can refer you. Borrow up to 200K I believe.
Decided against a refi because my conventional rate is killer. Can't touch that.
Post: My tenant buyout in San Francisco
- Oakland, CA
- Posts 246
- Votes 127
Post: [Oakland] Backyard Advice - Concrete, Pavers, or Mulch?
- Oakland, CA
- Posts 246
- Votes 127
I just hired a concrete guy to pave over the whole thing plus the side walkway.
Post: Adding a basement unit to an Oakland duplex
- Oakland, CA
- Posts 246
- Votes 127
Great to hear that ADU restrictions have eased to allow MFHs! Fantastic news.
Post: Adding a basement unit to an Oakland duplex
- Oakland, CA
- Posts 246
- Votes 127
I have an RM2 property and the planning dept stated that my lot size would not accommodate a third unit. Do you have enough sqft on your lot to accommodate a third unit? I believe you need 2500sqft per unit.
Post: New to RE-Bay Area investing question - Cashflow vs appreciation?
- Oakland, CA
- Posts 246
- Votes 127
Cashflow for me, and I invest in the bay area. Deals are harder to find, but they're out there. Appreciation is a game of speculation, whereas cashflow is tangible money in your pocket.
Post: Help renting vacant unit
- Oakland, CA
- Posts 246
- Votes 127
How much are you listing the rental for and what part of East Oakland?