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Updated about 3 years ago on . Most recent reply

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9
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9
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Michael Din
9
Votes |
9
Posts

Ready to jump in....but afraid!

Michael Din
Posted

Hello everyone, name is Michael I recently purchased my first home in July of 2020 in California. I got it for a really good price and my equity is up to about 100k already (paid 265k appraised for 365k). Houses in my area are getting cash offers for 40-100k over asking price. I do not want to sell this house. I DO want to use the equity in it to start my RE adventure. I am completely at a loss on where to start...i have done plenty of research, I analyzed 100+ deals. I would prefer to deal with OOS investing due to my central valley market being so rough right now.

Anyone in my shoes and how did you start? even reading everything i have read and trying to do my due diligence i feel i am stuck. Should i contact a financial advisor?

Most Popular Reply

User Stats

9
Posts
9
Votes
Michael Din
9
Votes |
9
Posts
Michael Din
Replied

Hello this property is my primary residence, but I plan on moving within the next 6 mo to north Texas. I was hoping to get 2 or 3 deals done and close before my move. My current house mortgage is 1200 rent in my area for a 3/1 house is about 2200-3k a mo.

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