All Forum Posts by: Daniel Kim

I use a company in Cypress to manage my property in the area. Let me know if you would like their info.

@Paul Cho I’ve used one located in La Palma in north OC for the last two years… he has rentals himself so he knows his stuff… pm if you would like his info

Honestly I'm not an expert on selling but if it were me, I would still put it on the market. In this market, it will probably have multiple offers soon no matter what it looks like inside. Yes, it won't look great in photos, but just having a photo of the outside and the realtor using words like "bones", "gem", "investor", etc. will let people know what they're in for...

Yes, that's what my lender told me about seasoning... conventional and VA is six months/FHA is 12

No, I guess there is no reason you need to go with a lender that is local to the DFW properties. As long as they are licensed for the state, I guess it doesn't matter where they are. Other than maybe working with a low appraisal, I can't think of anything else (income verification, proof of property taxes/insurance, etc.) that any 1-800 national lender loan officer couldn't do. I just prefer working with live people that I can email/text/call if I have a question as opposed to faceless names behind a desk, but that's just me. Hope you get that discount... I refi'ed three at the same time in 2020 and asked for one and got some discounts (I think like from the notary and closing costs) but not others...

If the properties you are looking to refinance are in Texas I would look for a Texas lender. I like my lender because he's here in California (like me) but is licensed in the other states that I want to invest in. I would probably talk to at least three and compare rates. @Philip Moon is my guy f you want to ask him any questions.

@Michael Lewicki Yes, I was required to open up a savings account. I just logged into my account and there’s still $5 sitting in it so…

@Nick D. My CPA is based in north OC… Mark Waldman tax in La Palma… very knowledgeable as he owns rentals himself…

@Sooyeon Kwon Hi… Whenever I have applied for an HELOC, they have ordered an appraisal… So the amount of your HELOC would be based on the property value when you are applying, not based on your purchase price…

Hello,

Has anyone recently opened an HELOC on their primary residence and can recommend their lender? I applied with BofA in June (yes, I know avoid big banks, but they were recommended as good for HELOC's). I waited two months to be assigned an officer just to find out that the max number of mortgages you can have is five - back to square one... I know people recommend local banks/credit unions but I applied back in 2019 with some credit unions and they seemed just as impersonal and slow-moving as the big banks... I'm considering Figure if anyone has experience with them... The property is in California. Thank you!