All Forum Posts by: Ko Kashiwagi

Hi Alex,

Which area are you looking at? And are you looking at rentals with a purchase price of 80k, or a downpayment of 80k? If you have 80k cash, you should have many options to invest using rental financing.

Hi David,

Huntsville is a great location for cash flowing properties. I would suggest to meticulously research the area in regards to the class of neighborhoods, school ratings, crime rates and demographics as some areas cash flow well but require more "management" due to the class of the neighborhoods.

Hi Selina,

Interest only programs will have slightly higher rates than 30 year fixed. It is also note worthy that interest only will increase cash flow but usually not significantly as PI is mainly consisting interest for the first years.

Hi Stephen,

How much costs have you incurred so far during this process? If you have paid much upfront, you can cancel the transaction and then wait until the seller gets everything ready.

It also sounds odd they are charging the 2500 origination fee without the loan closing. Origination fees should be charged at the time of closing and subject to closing, not prior to.

Hi Mark,

How much revenue are you expecting from the short term rental and what is your outlook on appreciation? It would depend on these numbers as there are opportunity costs for not selling the house.

Since you have a lot of equity, not doing a cash out refinance could be costing you more than keeping the low interest rate. You could also get a second position loan on this property and keep the first loan in place.

Hi Allen,

It seems odd the lender is pushing for the 10 year ARM product when you are willing to pay 0.50%. I'd get another estimate to confirm numbers

Hi Tempu,

Some other things to consider other than rate are closing fees, loan term and pre-payment penalty. You may also want to compare the HELOAN with other loans you could get such as a cashout refinance.

Hi Ayyoub,

What kind of purchase would this be? Primary residence or a rental? You could put both names or create an LLC if it's a rental.

Hi Steven,

As @Noah Corwick mentioned, using a PM would probably be the easiest way to go. Otherwise, you could use a real estate agent. Getting a lease listing with an agent is a way for you to create a relationship with the agent, and it could be lower cost than having a PM over the long run.

Hi Shaddy,

What is the legal use/zoning of the property? Non-warrantable condo's could be considered in a similar fashion as 1-4 units for DSCR, but otherwise it may be different.