Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 4 months ago, 07/30/2024

User Stats

14
Posts
6
Votes
Latif A.
  • Investor
  • Fairfax, VA
6
Votes |
14
Posts

What to do after first purchase

Latif A.
  • Investor
  • Fairfax, VA
Posted

Hello all, 

I purchased a sfh in San Diego with a VA loan for 335,000. This was before i wanted to be a rental property owner, and was intended for me to live in.

I now live in Germany, with mother in law because we have a baby and prefer to live with grandparents for the baby, plus its free and clear and no rent. 

Anyway, i am currently renting the property for 2300, with 10 percent management fee. And it is 200 dollers a month posiive cash flow after mortgage insurance taxes and management fee.

Where do i go from here? 

Work my job, and pay down the current mortgage? Or save for another home downpayment? 

Buy in san diego, or buy in Germany. 

I didnt study finance or realestate, so my expertise is in another field. My goal is to own more rental properties, and was wondering whats the best strategy to achieve this, with regards to what to do with monthly excess money. 

My family is very frugal and minimalist, so other than food and baby stuff and a monthly public transportation ticket, 10 dollers a month for cell phone,  we have no expenses.

So what do i do with all my income?

Loading replies...