All Forum Posts by: Matthew Kwan

You can either give a x days of notice (depending the county regulations) for a rent increase or request them to move out so you can live or renovate that unit. This will allow you to upgrade your units and increase the rents.

@Carlos Valencia @Albert Bui

I would recommend to use a tax preparation if your rental portfolio starts to scale up like 3+ properties and if you are self-employed with stocks etc. However, avoid using HR Block at all cost!! The experience I had was nothing but terrible, they had zero clue what they were doing and only relied on their software by punching the numbers to prep my tax return.

@Albert Bui @Carlos Valencia

HI Larry, any concrete details or numbers about this deal? Happy to see and structure a plan that will allow you to have some liquidity for this and potential your next project.

@Albert Bui @Carlos Valencia

There is a FHA 100 mile rule if you do plan on using FHA on your 2nd house hack. The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.

However, this 100 mile rule can be exempted for the following rules

1. Relocation
2. Increase in family size
3. Vacating a joint owned property
4. Non-occupying co-borrower

If you are not trying to use FHA on your 2nd househack, you can use conventional and the rules that I mentioned above will not be a concern.

@Albert Bui @Carlos Valencia

Congrats Dawson! Cheers for a better year #2024. Let's try to connect and see how we can help grow your business in the TX market or maybe even other states. Our niche is to help investors to diversify and grow their portfolio in real estate and also making sure they have the smoothest process like a Disneyland experience to the clients.

@Albert Bui

@Carlos Valencia

HI Zyon,

The 1% rule is an ideal metric but not applicable to all states. Some states, you'll be happy to get 0.6-0.7% back like in the West Coast. Sometimes to achieve the 1% bench mark, you can be creative by adding a bedroom/bathroom/kitchen so that you can increase the rent and value of the property. In Jacksonville FL is still achievable where you acquire houses at an affordable price, but the question is will the rents can be justified depending on the location and neighborhood.

@Carlos Valencia @alber

HI Dustin,

Feel free to reach out and we can discuss your scenario? @Carlos Valencia @Albert Bui

HI Dorian,

You want to make sure that your lender understands/aligns your Real Estate investment goal. Are you trying to house hack and hold it in the long term or more towards project that generates quick profit? There are also monthly meetups that you can mix and mingle to connect like minded individuals.

I'll happy to connect and talk more @Albert Bui @Carlos Valencia

If the number makes sense sure why not? The question is what is your strategy of acquiring this project? Fix and Flip or holding it as a rental property by acquiring it at  a  low cost then maximize your profit return?

@Carlos Valencia @Albert Bui

Try joining OC Real Estate from Meetup.cpm. They have a strong and helpful community. I usually attend their event once a month.

@Carlos Valencia @Albert Bui