All Forum Posts by: Helen Zhang

I would see this as a great opportunity to re-negotiate a deal with the seller. Maybe your numbers are not very realistic after all. I would ask the agent to bring it up to the seller and see if the seller and you can compromise a bit and go through the mortgage process together. But like many others have suggested, I do think extra cash from your end is most likely required. 

You are truly an asset to biggerpockets @Dmitriy Fomichenko

@Dimitriy, Thank you for taking the time to read through my question. 

Yes, that is correct. No full-time employees. The reason why I am doing solo 401k is for the following reason:

1. defer more taxes by contribute as an employer as well as employee

2. able to borrow against my own solo 401k account and pay myself interest

Embarrassingly I am stuck with a few questions to open this solo 401k account. I do not like mystery, and I would rather understand every single question on the paperwork before I open the account. The question that I am stuck on without full understanding is #5: https://www.fidelity.com/bin-p...

Hey Guys, 

I am very new to solo 401k and I wanted to get started on it. There is an option where it asks me if I wanted to integrate this solo 401k with social security. I can't seem to understand the intention of this question... what benefit do I get to integrate with social security? and why would anyone want to do that? how does integrate with social security affect 401k? 

I can't seem to understand what is the relationship between solo 401k with social security at all. If someone can help me understand this, it would be a tremendous help for me to move forward with solo 401k. 

Helen Z

I have only taken out mortgage twice in my life and paid back in 2 years. So I really have limited knowledge as to how everything in mortgage works. Can someone answer my questions on the following about forbearance?

1. What qualifies someone for forbearance extension and how easily can one be qualified for it? (Be aware I am asking for forbearance extension not forbearance)

2. When forbearance and forbearance extension ends, is the bank requesting all owed funds during the forbearance paid back at once? Or is bank will do some creative ways for people to pay back slowly?

3. Where do you guys get data on forbearance? (Such as number of ppl who filed forbearance etc).

@Sean Morrison thank you very much for your advice. I really do appreciate people giving friendly information like you. 

I am considering to create a few LLCs and transfer titles to those LLCs. But before I do this, I noticed many property owners were putting properties into Trustees.

I wonder if theres any information that I am missing out on. Why do these people putting properties into Trustee and not LLC. What are the advantages for putting into trustee other than it is easy to pass it down to someone else? Is there any tax advantages?

I can’t speak for others but I am doing cash purchase for two reasons:

1. Reduce loan fees. A house that is less than 100k is not worth going through loans since fees are not worth it.

2. Fast trade made my offer strong. I usually offer lower with cash, and still get the deal.

3. Choice of buy at auction. Welp, no option but to use cash.

I am not in total agreement that leverage is always the right way to invest. To me that sounds like gambling. You may know your odds well and took a calculated risk, but when market is going down, you may also risk to lose everything. 

i feel like i am getting multiple sources of where tesla is going to be... the last time I heard was around hutto area.

boarding up is likely not the most serious problem, the problem is that this property have been vacant for years. Why was this property not being able to be sold is the main question you will need to figure out. This will ultimately tell you the true price of the property.