All Forum Posts by: Tony Zhang

I'm interested in a duplex and submitted my offer with my buyer agent. I call the listing agent and she told me that seller has accepted other offer that is above asking price. But, she said there's also an off-market duplex available for sale in this community with the same asking price. At this time, I don't want to miss this opportunity should I make offer directly with this listing agent to get highest chance of accepting offer or talk to my own buyer agent (which she doesn't know this off-market deal, and I don't want she to spread the word to other interest buyer and increase my competition) and see if she can help me with submitting offer? 

Who should I choose and what's the pro and con between listing agent and buyer agent for an off-market deal?

Any comment on this is appreciate!

 Hi Michael, yea, we found our property manager and they're CJ real estate.

I see there's a duplex on the Redfin that has just listed in the market 20hrs ago, I'm very interested in it and I contacted the agent and she got back to me and said "I see the home you want to make an offer on has multiple offers already. There is an offer deadline of highest and best due by noon tomorrow. Let me know if you have any questions or want to make an offer. Thank you!"

My question is what she said is true? the house has only put up 20 hrs ago and there's multiple offers already? is she trying to push me to make offer? and the deadline is due before tomorrow noon but this's the July 4th holiday weekend?

Should I follow her advise and make offer before tomorrow noon?

Any comment on this is appreciate! 

@AJ H. Thanks for sharing your experience. If I put all my heloc to the single family rental. Then how could I pay off my heloc soonest? Can I do cash out refinance right after heloc? What if the refinance isn't cover all my heloc expenses?

Hello BP Community,

I have $100,000 HELOC available to invest. There's a $100,000 single family house and $200,000 multiple family that I want to invest. I have a few question below, hopefully someone with experience can share your thought.

1. Should I use my HELOC to purchase the entire cost of the single family house or should I use the HELOC to pay the $50,000 ($200,000*25%) down payment of the multiple family house and financing the rest of the cost of the house?

2. If I purchase the single family house with my entire HELOC, can I get the refinance after purchase so I can get my HELOC pay off? is this a good idea to do?

3.If I purchase the multiple family with half of my HELOC with $50,000 down, and get financing for other $150,000. Am I getting two mortgage payment to pay monthly? will this limit my cash flow?

4. What is the best idea to use my HELOC?

Thanks you!

Currently I like a house found online, and have an inspector inspected the house but come out with water intrusion in the basement which cause the Mold on the basement's ceiling. We asked the seller to get it repair but seller is selling it as is. The seller is listing the house for $92,000 and accepted our offer price of $85,000 but Zillow estimates the house is $110,000. Will it be worth to purchase the property without mold been repaired with this offer price? 

I'm thinking about buying this property then rent it out without repair the mold. Then after a few years of rental, sell it to the marketplace. Does anyone have experience with buying and selling the house with mold?

Any advice is appreciated.

Hi,

I just bought my first turnkey out of state property. I knew my next step will be finding a good property manager to taking care of the property, but how could I search for a good property manager from distance? How could I know if we know he/she is good or bad? and what "red flags" should I watch for when looking for one?

I greatly appreciate any advise.

Tony

Tenants are not paying the rent because of this pandemic, and our government is keep pushing the eviction moratorium again and again.  Do you think the government will delay eviction moratorium again in the end of the year (after December)?

Hi,

I just bought my first turnkey out of state property from the roofstock (still in the closing process). How does anyone start their first rental property? is there anything I need to be aware of? and what should I be expected in the coming weeks/months? any tip or experience to me?

Thank you!

Tony

Hi, I just purchased my first rental property in St. Louis. Does anyone has good property manager recommend?