All Forum Posts by: Justin H.

@Karen Margrave I might be late but I’ll be there. Thanks 

@Wesley Carroll Hey Wesley, welcome to Redding! Looking forward to meeting you at the Meetup.

@Karen Margrave Yes I cannot believe the rental rates right now. With the limited supply of houses I doubt they go back down. Inflation is still very strong and maybe the fed will do a half point rate increase next meeting. If they do that should cool things, but I expect just another quarter point folowed by more inflation. Housing supply is low and I'll stay in the market as long as I can find deals that pencil.

@Dwayne PosterI have absolutely seen many times where buyers had bad intentions and destroyed rural neighborhoods, thus ruining the friendships between the sellers and their former/current community members. I understand discrimination is not good, but people will do business with people they know like and trust.

@Karen Margrave See you and everyone at the Meetup. Looking forward to it. Thanks for organizing!

@Karen Margrave Thank you for hosting last night! I really appreciate you providing a space for us to meet up and exchange ideas. I would have liked to get everyone's thoughts on AB 1771 also. Not sure if it will pass before our next meeting (are you thinking April 21st?) so we should definitely discuss it then. Like so much legislation developed, it is a reactive approach which lacks coherency and will be riddled with unintended consequences.

On raising rents, yes I hear what you are saying. Often people who have been renting the same place for 20 years are on fixed incomes and unfortunately, they tend to be the hardest hit by a low interest rate environment that drives inflation upward. Prices are certainly going to continue to rise in the foreseeable future. It makes sense to me to offer the tenant a chance to pay the increased rent as reliable and stable tenants can be hard to find.

I’ll try and update my profile pic soon too!

@Olivia Garcia The servicing Pace is refering to is a company that collects a payment from the property owner and then they pay the mortgage (prinicpal and interest), insurance, taxes, and HOA fees. These are usually called PITI (without HOA fees) and are standard for most mortgages. The insurnace and taxes payments are held in an impound account and paid 1-2 per year. There are tons of mortgage servicing companies to lookup. I could recommend one if you have a bit more details on the loan type, etc. The service agreement is also great because it helps keep all the bookkeeping and notice, etc requirements straight.

As for lowering DTI, this process is regarding the original borrower's DTI when you take over their loan subject to. This will typically drop this debt by 75% thus lowering their DTI. It functions for underwriting as if the original borrower is renting the property out. This will allow the original borrower to more easily quailify for a new loan..

Hope that helps, let me know if there's more questions.

@Amos Sivan @Isaias Velasquez Hi, I am just now seeing your posts. Karen has another meetup scheduled for March 24th (6:00PM-7:30PM) at 2636 Churn Creek Rd, Suite A Redding, CA 96003. Here is the posting: https://www.biggerpockets.com/... 

Hope you can make it!

@Karen Margrave I vote for the 24th. I am flexible though.

@Karen Margrave Thanks for hosting tonight. Let's do it again next month!

@Karen Margrave Thanks for organizing! I am looking forward to attending. I vote to get food to go. So hard to hear people in restaurants.