All Forum Posts by: Sam Chan
Sam Chan has started 12 posts and replied 24 times.
Hi,
I'll be travelling to Dallas in mid-September and would like to check out the Dallas area and see if there are any investment opportunities. Could you recommend a Realtor in the area to connect with?
Hi all
I will be visiting Vegas this weekend and like to see some houses for investment. Which area should I be explore and visit?
Hi,
If you have invested in Yuba City, could you provide me with your experience? Is it STR-friendly? What is the STR registration process with the City (I couldn't find any info)? how are the renters? how's the appreciation in Yuba City area?
TIA.
Sam
Post: Investment property refinance
- Posts 24
- Votes 10
how do i know if i have a conventional or FHA loan?
Post: Investment property refinance
- Posts 24
- Votes 10
I purchased the investment property in May and was told that I have to wait 6 payments before I can refinance. Why do I have to wait if I am only doing a rate and term refinancing.
Post: When to refinance?
- Posts 24
- Votes 10
Quote from @Robin Simon:
Quote from @Sam Chan:
Hi
We purchased an CA investment property when rate are at 8.25%. I wonder when I should refinance. Some options are:
-No point - rates at 7.75%
-Can buy down to 6.99 but cost 1.5%
-Wait till next year or later when rate goes down.
I also have to bring the LTV to 75%. Currently, it is at about 77% LTV, based on the appraisal.
TIA
Do you have a prepay penalty attached to the current loan?
no prepay
Post: When to refinance?
- Posts 24
- Votes 10
Hi
We purchased an CA investment property when rate are at 8.25%. I wonder when I should refinance. Some options are:
-No point - rates at 7.75%
-Can buy down to 6.99 but cost 1.5%
-Wait till next year or later when rate goes down.
I also have to bring the LTV to 75%. Currently, it is at about 77% LTV, based on the appraisal.
TIA
How is the Belleville, IL area? is it good for rental?
Post: Sacramento County STR
- Posts 24
- Votes 10
Quote from @Dan Sundberg:
I have a MTR in the Med Center area just outside of downtown and it's been great for 2 years now.
You do still need to get it inspected through the Rental Housing Inspection Program, but that's pretty easy. They're just making sure the house is livable and you can find their checklist on the city website so you know what they're looking for. To my understanding too, you can rent your property out while you wait for the inspection and results, and if you miss some items on the inspection they're pretty easy to work with to get it remediated (In my inspection I was missing a smoke detector in the basement and they let me send photos when it was installed). There are fees, but the big one is upfront and then yearly it's like $18 to renew and they let you self-certify for 5 years. Not a big deal.
As for marketing Furnished Finders is the gold standard for MTR.
Hi Dan
Is the inspection for MTR or STR or LTR? Thank you.
Post: Sacramento County STR
- Posts 24
- Votes 10
Quote from @Bonnie Low:
If a permit is required I absolutely would not list it before then. Big jurisdictions are going after properties that are unpermitted and the fines can be substantial, as can the penalties. Marketing it as an MTR might be a good alternative so long as Sacramento doesn't also regulate MTRs.
Sac don't seem to have regulation for MTRs. How do you market it?