All Forum Posts by: Jennifer L.

@Guy Olds Agreed there are many cash buyers that are both market price and investors in the Southern California market. I would say you might have a better chance developing a network to have the opportunity purchase properties that are not listed on MLS.

Just wanted to clarify do you mean someone who will lend you hard money or investors looking to buy in inland empire cash?

We have used Cathay Bank and East West Bank for our properties. Their products also cater to foreign nationals as well. They usually are 30-40% down with about a year in reserves. I think on my last loan I got about 4% adj annually.  They are really on the ball and also have staff to speak any different dialects like Hokkien which was a big help to my dad. 

@Jesse J. Not 100% sure about Arizona. However many foreign nationals are able to obtain an adjustable, "owner occupied" mortgage for 4 units or less from East West Bank with 40% down. Also helpful because pretty much all bank staff speak Mandarin, Cantonese, and Hokkien. 

Hello,

I purchase REOs, short sales, foreclosures and buy and hold properties. Four units and under are preferred however will consider other opportunities. 

If a deal needs to close fast, distressed ect. I can close with cash. I tend to center on properties in the Long Beach, Lakewood, Cerritos area.

Investment area is Los Angeles and Orange country and part of Inland Empire.

I can view/check on property next day.

HI Mike,

Some banks allow a letter to be written identifying it a gift. It depends on how he gave you the money and how long it has been "seasoned" in your name. 

I do that quite often as I won't qualify for a conventional loan and thus have to go through a couple banks with special loan programs at 40% down.