All Forum Posts by: Kevin Kim

Hello BP,

My wife and I have been searching our local market (Los Angeles) to purchase our first home. After reading books and listening to Brandon and Josh on the podcast, we are convinced that we need to start with a multifamily (preferably a 4-plex).

We have been pre-approved for an FHA, and have looked into a 203k Loan. HOWEVER, with interest rates ready to soar, and housing already priced at an all time high, is it a good time to buy?

CASH FLOW is KING! - Yes -- I've heard this EVERYWHERE. But this seems like an impossible feat here in California.  We have been renting for the past 3 years, and avg. rent payments are $2k plus. Frankly, I am sick of paying for someone's mortgage.

Is there ever a good time to buy in Cali?  With all things considered, I would rather pay for my own mortgage than keep renting, even if this means I am not cash flowing. Is my thinking flawed?  Please help!

There was one more question I forgot to ask. Can you use an FHA loan on foreclosures? Thanks again!

Hello BP Fam! I had some questions regarding FHA's and 203k loans. Is it wrong to assume that I will be approved for a 203k loan if I was approved for an FHA? Also, do FHA's only qualify for turn key properties? And can you have a co-signer for both loans? Any information will be greatly appreciated! Thanks

I will be there with a +1. Thanks for all the hard work to set this up  

Thanks so much @Michelle Watt! 

@Jon Huber actually sent me a message regarding the meet up. I'm still awaiting the details on time and place.  Hope to meet you there.

Thanks for info @Daniel Ryu.

Will definitely take a look into this. Must be nice being back in the motherland!

If you are ever back here in LA and do decide to go to a REIA meet up, please let me know.

Thanks! 

Hello BP family. Can't express enough of my gratitude for the many lessons I've learned just from browsing through the forums. I am fairly new to RE and thought joining a local REI club would be beneficial. I am located in Los Angeles (Korea Town) and was hoping any BP members could recommend any. All input would me much appreciated. Thank you.

Great! Thanks for clarifying the line of credit.  I do have enough for the down payment, but if I could borrow, I thought that would be advantageous. If I am incorrect on this assumption, please let me know! Thank you.

Hello Everyone,

I am fairly new to real estate and have some questions that I can't seem to find an answer to. I am a small business owner, and my business has yet to take off. It is my third fiscal year, and have seen gradual growth, but not enough to where I think a Bank would approve me for a loan.

I am looking to purchase my first investment property (4-plex) using an FHA Loan. I live in the Los Angeles area, so the market here is extremely pricey. If I were to find a private lender to help with the down payment, could I get approved to use an FHA?

If so, when would I be able to take out a line of credit on the property to pay off the private lender? I heard of some people doing this strategy. Will I even be able to take out a line of credit from the property?