All Forum Posts by: Min Sik kang

I have attended and actually bought their package. 

The seminar itself is touching basics on different topics.

They will try to make you purchase the program.

Don't purchase it.  

I personally thought the package is way overpriced for the service I received, although I received a discount.  

  

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Thank you for your reply DJ!

I was thinking of living there for a year and rent out the rest to more students.

While I am living there, I was planning to do some rehab and add some more value so that I can later on refinance and get all my money back since I think the property can go up to $900k or even more. 

Hello!

I just wanted to ask if this is a good deal, based on my plan to house hack.  

This property is a duplex near USC (5 mins by car and 20 mins by walk)

It is listed for $744,900. (2,939 Sq. Ft/Lot size: 4,799 Sq. Ft./Built: 1912)

It's been on the market for around 100 days.  

Unit #1 has 5 Bedroom 3 baths

Unit #2 has 2 Bedroom 2 baths

I was planning to rent out unit #1 to college students attending USC (rent it out per room) and in the meantime live in unit #2 with my family.  

Since this will be my first home, I was planning to use FHA loan of 3.5% down payment ($26,072),

Expected payment per month will be $4,818 according to Redfin (principal and interest $3,444/Home owner's insurance $137/Property taxes $788/Mortgage Insurance $449).

I am not sure if these numbers are correct or trustworthy (can someone verify??)

If I rent out 5 rooms for $1,000/person or $700/person (if they want to share the room), I think it will be enough to cover all the payments and basically live for free.  

first of all, I want to know if the numbers are right based on the market.

secondly, I want to know if this is a good deal for house hacking based on my plan.

Thank you so much ahead of time for your replies!   

I just found a property on MLS that is on sale in LA (near Korea town, Silver Lake, and Wilshire) and it's been around 270 days on the market and the price is $800,000 (3 bed 1.5 bath 1600 sqft).

My question: is it possible to negotiate with the owner of this property directly even after the property is on the market?  

It has been on the market for so long I am curious if this is a possibility.

Thank you for your reply ahead of time!  

I live in Los Angeles, CA and I do want to start Real Estate Investing in CA.  I realized CA is totally a different beast when it comes to purchasing Real Estate and I was pessimistic about doing Real Estate here in CA, but I changed my mind and decided to take the challenge and ask "how can I make it happen?"

I just need some recommendations on strategies or information on which areas are good places to invest.  

Thank you ahead of time for your input and response!