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All Forum Posts by: Mark Nguyen

Mark Nguyen has started 8 posts and replied 29 times.

Post: Short term cash out no doc loan in Philadelphia, PA

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7

Thanks everyone for your replies.

Post: Short term cash out no doc loan in Philadelphia, PA

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7
Quote from @AJ Exner:
Quote from @Mark Nguyen:

I will. Thanks Devin


What kind of leverage is he looking for? I had one good c/o bridge lender but they have cut leverage a bit as of late. How much is the property worth? Many will have minimum prices as well.

Please see below.

Property type: townhouse, 3 beds, 1 bath

Mortgage balance: 80k

Estimated value: 235k

Cash out amount: 70%-80%

Post: Short term cash out no doc loan in Philadelphia, PA

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7

I will. Thanks Devin

Post: Short term cash out no doc loan in Philadelphia, PA

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7

Hi, I have a borrower who is looking for a short term cash out no doc loan in Philadelphia, PA. He is planning to do touch up work then sell his investment property. Anyone know if this loan is available and who I could contact? Thanks,

Post: Partnership in California and Florida Structure and Tax Deduction

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7
Quote from @Jason Wray:

Mark,

You just want to be careful so that it does not get sticky during mortgage or title.  There are some steps you could take in order to be sucessful but it would depend on if you need to buy as primary or investment.

Primary only 3.5%-5% down for 2-4 Units & Investment 15% down for 2-4 Unit purchase.

Primary presents title issues where partner getting tax benefits would be delayed.  Investment offers dual ability for both you and partner and tax benefits with no delays.


Jason, thank you for your reply.

Post: Partnership in California and Florida Structure and Tax Deduction

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7

Hi,

My partner in California will be funding a single family up to a fourplex. I am in Orlando, Fl, will be finding, analyzing, negotiating and managing the property in Orlando.

I will be living in one room/unit and renting out the others.

We are looking to acquire an investment property by the end of 2023 using creative financing or maybe with a conventional loan.

She is looking to reduce her income tax by about 200k. Can any fees/costs (inspection, rehab/repair, closing, reserves…) associated with the property be deducted from her income tax? What amount of expenses would reach the tax deduction amount of 200K?

Any suggestions on how we should set up our partnership with the tax benefits are welcome.

Thanks in advance,

Post: Landlord Charging for Microwave Replacement

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7
Quote from @Richard F.:
Quote from @Mark Nguyen:

Last month she tried to get me to sign a new lease so she can increase the rent while my current lease is good till next year.

Any suggestion on what I should do and how to stop her from trying similar charges?

Print and hand her this:
https://www.unlimitedmls.com/forms/Landlord-Tenant-Handbook....

 Thanks Richard for the link to the handbook.

Post: Landlord Charging for Microwave Replacement

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7

Thanks for all the replies.

I don’t abuse microwave 😊She seriously said it broke because I was stressed 😊

Last month she tried to get me to sign a new lease so she can increase the rent while my current lease is good till next year.

Any suggestion on what I should do and how to stop her from trying similar charges?

Post: Landlord Charging for Microwave Replacement

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7
Quote from @Mary Smith:

@Mark Nguyen Ideally a landlord should not charge you to replace a microwave, unless it was clearly your fault that it needs to be replaced or if stated in your lease agreement. 

Thanks Mary. I will review my lease.

Post: Landlord Charging for Microwave Replacement

Mark Nguyen
Posted
  • Lender
  • Florida
  • Posts 29
  • Votes 7
Quote from @Charles Carillo:

@Mark Nguyen

What does your lease say? There typically is a provision in the lease that states who is required to maintain items in the unit, or around the property; the landlord or tenant.

Thanks Charles. I will review my lease.