All Forum Posts by: Riko Yap

@coty dowell HOUSE HACK! That’s the one! Thank you!

What’s the term they coined, they use it a lot when describing investing in a property and renting out the rooms? It’s at the tip of my tongue and its bugging me that I can’t remember! Any help? Thanks!

Jon S. sorry I don't know if the last reply I just wrote tagged you

Jon S. Thanks Jon, and thanks for the book recommendation I will def start that as my next read. I see you love in Berkeley, are you apart of any local REIA's here? Have you had any luck finding any good SFR's here in the Bay Area ?

Marian Smith John Whittle Mike Cumbie Nick Tiedt Thanks for the advice everyone! I really appreciate it, I totally got the opposite reaction of what I wanted to hear, but it's probably the wiser opinion that I needed to hear. I'll continue my learning and saving and not gamble with the gift.

Danny F. Mahalo Danny I will do more research

@Wayne Brooks What about buying out of state through a Turn Key Investment company like JasonHartman.com, where they partner with local property management companies?

@Danny F. Aloha and Mahalo! FHA offers HELOC's? Or apply for a HELOC and obtain an FHA loan for a multi-family? It's pretty tough to find a good house hack property in the Bay Area.

@Dave Van Horn Thank you! Seasoning like, they want to see bank statements showing that we're paying the mortgage?

Hello! 

My brother and I just purchased our first home this past August 2016. Our parents gifted us $150k for the down payment on a $510k brand new track home in Tracy, CA. 

The $150k gift from my dad was money he pulled out from his 401k (He's older than 59.5). I want to help my dad with putting his money to work for him for his retirement since a good chunk of it was to help buy this new house. 

Is it possible or do you recommend doing a refi-cash out on our property so that we can use that on a down payment for a rental property out of state?

Any help or suggestions would be very much appreciated thank you!