All Forum Posts by: Huy N.

Yes, it must have been done on some kind of delayed 95% financing or similar, as best as I can tell. My banks have always told me 0-6 based on purchase price, 6+ based on appraised value, 75% either way on investment property. Nevertheless, it's a great story! Congratulations!

I had the same answer here. I will give my loan officer a call now and ask what the hell now. haha

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Originally posted by @Arianne L.:

@Huy N. Thanks! @Jerry Padilla can probably explain this better. But in order to meet the delayed financing exemption, you have to finance before 6 months after the initial purchase. In my case, I initiated the financing process 2 weeks after my initial purchase. But I could only finance up to my initial investment, even though it was appraised for $134,000. This is because I wanted to use the cash again as soon as possible for other real estate ventures.

Hey Thx for the prompt reply. just a question: how do you get 70k out? is it FHA loan? if it is within 6 months my loan broker can only let me take out 75% of what i put in and leave 25% there.

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@Arianne L. Do u have to wait 6 months for the refinance?

Thanks

Huy

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the 1st deal that everybody dream of. congrat!

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"Invest as if you have no money and invest as if the market will crash tomorrow"

I forgot who or where i read or listen to this but i am pretty much optimizing my portfolio base on the above and ask this very question on every single investment purchase now. and Yes, according to Grant, Robert Kiyosaki, Petter Shiff, Trump, etc...there real crash is just around the corner. the 2008 one is just a baby one.

I believe them. and prepare every single minute now.

1 Vote

Originally posted by @Randy S.:

Wow. It looks like two separate houses! How did you get started in real estate if you don't mind me asking.

i started just like everyone else Randy, Just save up and go after your 1st deal then everything keep on snow balling since then.

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update on this post: Check out our new Airbnb room (before and after). We are huge fan of Airbnb. please don't forget to reach out to us if anyone want to visit Houston.

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Originally posted by @Bhekizwe M.:

great job.thanks for sharing.rent to cost ratio seem in order after the rehab

Yea Houston is one of the few city where the cost to rent ratio is still good for landlord.

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Originally posted by @Dmitriy Fomichenko:

@Huy N.

That's some really impressive work, and I was amazed to look at the before & after photos. Excellent on the bathroom and wood floor. I liked the color scheme too! Thanks for sharing

thanks man!

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Before

After

Full post here:

https://www.biggerpockets.com/forums/223/topics/285533-a-cleaner-job

8 Votes

All Forum Posts by: Huy N.

Huy N. has started 94 posts and replied 468 times.

Post: First Rental Refinance - BRRR

Post: First Rental Refinance - BRRR

Post: First Rental Refinance - BRRR

Post: First Rental Refinance - BRRR

Post: Grant Cardone is Very Down on RE Right Now - Are You?

Post: A dirty job

Post: A cleaner job

Post: A dirty job

Post: A cleaner job

Post: Share Your Success! Pics, Flips, and $$$