All Forum Posts by: Jason Kha

@Nik s I'm sorry I just realize I spell your name wrong. 

@Paul Timmins thank you for your recommendation.

@Nike s thank you for your response.  I will give them a call. Do you mind recommend plumber and electrician? They stole all cooper and wire so I need to put plumber and electric on the property.

This is dumb question: do we need to has gas line on the property and who can you recommend?  

Hello BP !

I'm not sure i'm in the right forum or not. Newbie make a mistake so I'm just wonder do you have any foundation expert that you guys can recommend in Warren Ohio

Thank you,

Jason.

Looking for some market information in Mankato, KS. I would appreciate any insights on the area.

Thank you,

Jason.

@Jon Holdman Thank you and very appreciate of your time to explain the procedure and your response again ! Base on what you said, I can't refi the loan since the loan amount above the refi loan, am i correct? so I need to bring the loan amount down to $56k, am i correct?

I don't understand when you said $14k on your own cash to pay $67k? Would you mind to explain more detail on that?

I'm sorry to bother you so much.

Thank you,

Jason.

@Jon Holdman Thank you for your response.

@Wayne Brooks Thank you for your response.

@James Wise Thank you for your response.

Please excuse me my lack information.

here more detail:

Loan amount 67k (per seller)

FMV: 75k

bed: 2

bath: 1

living square: 1440

Monthly payment $600

Loan fees: $550

Can I refinance the property from FHA to conventional loan after I assume the loan so that I rent it out? Since the loan amount is low, I believe the amount should be lower when I get rid of PMI, am I correct? After I assume the loan, do lender transfer the title to me or do i need to go through title company to transfer seller name to me?How is it work on the title?

Hi BP.

I'm new with creative Financing. I have newbie question about "Assume Loan" that I need you guys expert opinion on the subject if you guys don't mind. I saw this potential deal so attrative to me:

Location: west carrollton, OH
Loan type: FHA
Interest: 3.75% Fixed 30 years loan
currently term only left: 26.5 years
monthly payment: $600

Here come my question:
1. After I assume the loan, can I rent the property out?
2. Based on my research, I still can keep term, interest rate and and monthly payment?
3. I look through the BP website and other website didn't talking about the "title". Do they still have to go through title and escrow company on Assume loan? maybe I need some expert to explain the process.
4. Last, what do you think about the deal? :P

Thank you for all your help. I'm looking forward to hear all of your response.

Jason.

@Xander Tang welcome to BP ! You have to decide where do you want to live? What kind of communities do you want to live? what kind of condition on the property? fixer upper or move in condition? How much can you afford in downpayment and / or monthly mortgage?

If you need help or any more futher question, you check it out the resource on BP or shout it here. We can have converstation over the coffee or drink if you drop by.

Jason.

@Leon Hartsock Welcome to BP ! I'm also new invest in OHIO too. I'm also doing research in Cleveland, Columbus, and Toledo. I'm agree with the price. In CA, it is hard to break it into the market due to higher price too. I'm will fly to OHio soon hopefully. Good luck on your research.

If anyone familiar in Toledo, oh, please let me know :).

Thank you,

Jason.