All Forum Posts by: Lilly Fang

Thanks. Ben. I don't even know that Bitcoin can earn interest. Thank you!!

cash flow is nearly the same. Currently my mortgage for this house is $1045 monthly (15 yr fixed), the new mortgage will be $1095 (30 yr fixed). Rent is $1950. The house is in a great location and will not have major expense (house was built in 2000, have new laminate floor, AC, and interior and exterior paint in 2015).

I have a rental property with about 82K mortgage left (interest rate was 2.85% 15 yr fixed). The property is worthy about 400k now and I intent to keep it for years. I don't like to see the cash stuck in the house, but I don't know what to do with the cash if I refinance out. The stock market is uncertain and the real estate market is kind of high right now.

The loan agent told me this:
Assume house value $400K. You can do cash out up to 60% of house value, which is $240,000. After paying off the current loan balance of $82,000, you will have $158,000 in hand.
30-yr fixed rates:
- 3.625%, monthly P&I=$1,095. No point, you need to pay all closing costs (Total closing cost is about ~2500 if appraisal can be waived, else it is around ~$3000)

Hi, I am also interested in Waikiki STR and did some research. A local realtor told me that for a condotel, the down payment is 35%. My question is if I pay cash offer to get a condotel to get a better deal, then can I do cash out refinance to get the money out of it? Here is CA, I can get 70% cash out of my investment house. Also what's the PM fee in that area? The realtor said 15-25%. Thanks.

I have a rental (market value close to 400K) with 100k mortgage left. I don't want to sell it right now, but want to get some cash out of it. Can I do cash out refinance on this? Is there any tax problem now or when I sell it in the future? If I do 1031 exchange in the future, will the tax be deferred too? Thanks.

1% doesn’t work in majority place in CA unless you bought in 2011. Even then, it still doesn’t work in a higher price area. I am renting a house at $3000 a month. The house cross the street (same floor plan, 4/2.5, built in 1960s) was sold in 2011 for 442K (great deal), now sold for 800K with only new interior paint. For good positive cash flow, I need to look out of CA. I am considering this house to be a starter to get into real estate investment because this area will hold its value even the whole market is down (at least won’t go down too much). The seller lives in that house with 20 cats. I don’t think it’s livable for me, a little bit too snall

3 bedroom, 2 bath house, 1250 S,F with 7000 s.f. lot, in a nice town in California. listed 385K. (the neighborhood is kind of old, but good location, especially for first time buyer and family renters, most houses after flip sold at 550K-599K). I gave an offer of 415K with help the owner moving, etc. They received 19 offers and now told us you have one day to revise offer. the seller is overwhelmed and will sit down and consider offers tomorrow afternoon. My plan is buying this house at 5% down (as primary residence, got lender approval already), put 50-70K (new AC, kitchen, bathroom, floor, paint, some repair of roof), then refinance, then rent out (project rent $2500, or maybe $2900 if I turn the garage to a room), or maybe sell it.

My question is if I should increase my offer to 425k or 430k? does it really matter the 15k, or 20K? especially on that 5% down? (I am not a typical investor, well, I am first time investor, and I do consider if I make this house nice enough, maybe I can really take it to my primary residence for a while). and money is not a big issue, I do have 200K cash, just want to put as little down as possible, that's why I do 5% down. My realtor said a house similar to this was sold at 430K in Jan 2018 and flipped to be sold at 560K in June.

 Hi, thanks for replying me! I am considering to buy this old house or just new house in Cannery for nearly 900K. This one is 775K, 2000 Sf. 

 It’s a crawl space. It’s in California, but not in Bay Area those expensive place. The new house nearby with no back yard is about 100 K more expensive. That’s why I am considering if it’s better to buy the old house or just buy the new house.