All Forum Posts by: Kevin Kim

Thanks Grant. I got answer from better.com as well. now it makes sense.

Hello 

I have closed my first investment property last Sep. Noticed my loan lender closing cost details shows they charged 10Months Property tax prepaid. My question is why do i have to pay 10Months property tax in advance? My each month mortgage payment is already included Property tax and Insurance. I am asking lender(better.com) but haven't heard any answer yet.

Appreciate any help.

Thanks All for valuable input. I will check with PM about the details. 

GM All

I closed my 1st rental property and now I am working with PM company. 

Local PM is asking some closing statement. Do we need to provide closing statement?

It has been 1week since closed. Now PM company will get a quote to fix before rent out.

How long usually take between close to rent readiness? When I spoke with them first time, they say it will take 1-2 weeks but it is already passed 1week and we haven't start any minor fix for the rent.

I am not sure if it is normal. I am OOS and the property is located in TN.

@Sara C. Thank you for the info. I am also interested in the investment friendly town home. I will send DM you. 

Thanks GP and Tiffany. I will need to check if there is any HOA limitation then.

Hello 

I am OOS investor and interesting Condo/Townhome near Buckhead area. The price for 2-3bed room is around 200,000 - 240,000 and still see some positive cash flow. I like the area since the school district is good and the location is close to the downtown. Is there anything take consideration on this location/condo? 

Hi GM All

I just closed first OOS investment property. I am working with local PM. They are currently checking with vendor to get a quote to fix before they rent the property. Is there anything I need to pay attention?

I had signed the contract with PM company and the company so far seems to be reliable. I choose the PM company based on the positive review on BP and hope it is good choice.

They say it will take 1-2 weeks to rent out. Appreciate any advise for the first OOS investment.

Thanks

 Thanks Joe. I will take a look bridge loan.

GM Folks

I am thinking move to a city where it is close to my work and has some city life. (my current commute is 2 - 2.5 hr for each commute before pandemic)

Current home value: 1.1mi (mortgage: 650,000)

If I move to another home, my dilemma is what will be best option to buy another primary home? To make it down payment, should I use Heloc or Cash out refi? I guess Cash out refi, there will be some limitation that I can't sell home within 6months etc..My best plan is I buy new home move in then sell the existing home around same time.My current home it is in NO CAL and will buy some OOS real estate investment after I sell. PSI: I have 1 OOS investment property so far.