Rookie with unique situation in Orange County, Ca.

[Tony Ramos]

Happy New Year everyone. The time has come for me to invest. I'll start off with my situation. First off I bought my current house about 4 years ago for 375k in Orange County and now Zillow is estimating it at $575 - 600k. I owe about $320k on it with interest rate at 3.2% for 30 years fixed. My income is about 130k yearly and my wife is the same at 130k yearly. I don't really have any debt all my cars are paid off, all I have is a few credit cards, nothing big. My wife went to Berkeley Law School and had 200k in student loans. She's managed to pay off about 40k on it. She pays $2000 a month for student loans and I pay $2000 mortgage payment. With all that being said. We don't know where to start investing. My wife has taken real estate law classes and loved them. She was also a Municipal Law Attorney and knows all the ins and outs on how city's work and about permits. We don't know if we should focus on paying off her loan. Or take the money out of our equity and pay off her loan. Or use our equity to acquire an investment property. I feel with her skills combined with mine we would be an unstoppable force in real estate. I can do pretty much all handyman type of work like plumbing, tiling, cement work, drywalling and painting, even roofs. Especially since I only work 3 days a week I could use my spare time and devote it to real estate. I love the idea of flipping houses and especially the BRRR strategy.That probably interest me the most. But I'm not opposed to buying out of state since California is really expensive. I'm just curious what you would do in my situation.

[Joe Homs]

@Tony Ramos 

Welcome to BP. There is a location where like minded investors gather in Lake forest every month that you should check out. Go here https://www.biggerpockets.com/forums/521/topics/380015-lake-forest-california-meet-up-on-wholesaling or PM me for the details.

If you would like to chat before then and talk about investing let me know. I am in Mission Viejo and can get together at my local Starbucks. Your ALL in cost is only a cup of coffee.

I am currently flipping homes in Orange County and teach others how to do so as well. I started a wholesaling group and spend my Saturday mornings with them.

I am looking for my next purchase at the court house steps, while I am working on a few more.

Good Investing...