All Forum Posts by: Vee Vu

Why don't you try to contact lenders about refinance? So you will know the exact positive cash flow you can get, after maintenance and property management cost. Otherwise, I think selling will be better.

@Zack Karp Hi Zack, thank you for the clarification. I will review my closing documents. Do you lend in Colorado?

@Blake Dailey  Thank you Blake. I guest I have to wait 1 year as well.

@Nzinga Young Hi Nzinga, it's conventional loan with 5% down

@Matt Hurley Thank you Matt, but I don't plan on selling soon. I just focus on long term rentals right now.

@Steve K. Hi Steve, I bought the house last Dec. The lender said I had to stay at my house 12 months, before I can buy another one as another owner occupied house. The first one will become a rental.

I’ve been talking to a few lenders about how many months I have to actually stay at my house, before I can rent it out. And get another owner occupied mortgage for another new house. But I’ve been receiving different answers: 12 months, 6 months, 0 month, etc. Please help me with this simple question. Thank you!

@Nicholas Covington Hi Nicholas, I see that you are a lender in Colorado so do you have any experience with private lenders? If they agree to fund a deal for a 30 year fixed loan, what % of down payment and interest rate do you usually see?

@Chris Lopez Hi Chris, do you have any recommendations for the type of loan that is still considered  cheap but maybe just more expensive than the 5% down 30 year loan? 

Hi everyone, after many years watching other people investing in real estate, finally I pulled the trigger. I bought my first house as a primary residence last December. And now, I am ready for the next one. However, my lender said that in order to get another mortgage 5% down with low interest rate, I need to wait for 1 year. And I asked about investor loan, but the rate (5.5%) is high comparing to primary residence (3.5%). And I only want to put down 5% - 10%. How/ Where can I find private lenders who can do 30 year fixed mortgage with 5%- 10% down (price range: 350K - 550K)? Thank you