All Forum Posts by: Ko Kashiwagi

Hi Tedman,

For free softwares, Excel, Trello and Notion would works. For paid softwares, it depends on the scale of your investments. Monday.com, Zoho, REI/kit, Flipperforce are softwares that are common.

Hi Taylor,

The viability of the house hack strategy would depend on how long you would stay. What's the shortest expected duration? Is it less than 6 months? Fix & Flip or BRRRRs would be great strategies for you to execute rather quickly, if you are in a city for less than 6 months.

Hi Shivani,

I'm assuming the 3.1k/month is a market rent? It's completely reasonable to rent it for market rent, and it would be better to find other tenants if they cannot pay.

Hi Michael,

It would be simpler if you and your partner created a new LLC with ownership shares split. As you refinance, you can transfer the deed to the new LLC.

Hi Daniel,

It is more common for the property to be under LLC for DSCR refinance, but this does not have to be the case. There are programs where you can keep it under you personal name.

As others have mentioned you can do a 5/1 ARM. It's also unclear if and how much rates will go down in just a year. If you think there's a deal worth pursuing, it's generally a good idea to buy. If you buy a property now and the interest rate goes down, the value will likely be up as the economy rises.

Hi Gabrielle,

Private money lending are less accessible, and not always cheaper. In fact, a lot of private funding tends to have higher rates especially if the deals fit in the box of hard money lenders. I'd recommend you to talk to a couple of lenders and compare what they are offering.

Hi Sarah,

I'm assuming you are currently occupying this? Would moving out and getting a new property, and renting out the entire unit be an option? 

Hi Benjamin,

What financing are you looking to use for the purchase? If you are looking to use your W-2 and tax returns to qualify, you would be using a conventional loan, which typically don't allow LLC vesting (unless you transfer the deed later). If you are looking for a DSCR loan, having a LLC would be a good idea.

Hi Andrew,

BRRRR should work in most areas but it can be harder in less populated areas. One key thing to check would be whether the property is considered "rural". The reason being most lenders cannot do rural properties and you'd be limited to local conventional financing. This can be easily done by plugging in the address into the CFPB tool. Another point would be to check comps, as high activity is a good sign for BRRRRs.

Hi Corinne,

If you don't see yourself holding on to this 5-10 years later, it would be a good to sell and move on - possibly through 1031 exchange. Another alternative could be to seller-finance or cash out refinance. Since you've likely built a lot of equity, cash out refinance would allow you to put a down payment on a new property while keeping the cash flow from this one.