Own 2 properties free and clear in CA. What to do next??

[Amber Jeter]

Hi BP family! I need some input about leveraging my free and clear properties in California for rental properties and fix and flips. A little background. 30 years young, credit score of 730, no debt, I have my CA real estate license but haven’t worked under a broker for a few years. I currently own 10 acres free and clear with a value of 60k and a SFR on 5 acres that I bought in May for $250,000 cash. The home needs updating but is livable, so slowly renovating the kitchen, bathroom and floors while I live here. I recently discovered bigger pockets and have listened to a lot of financial freedom audiobooks. I want to use the money from these two properties to create income and wealth to become financially free but am having a hard time getting started on the right path. I’m open to creative ways of funding deals using some of the equity or possibly selling these properties to fund better investments. Any and all info is greatly appreciated. Thanks!

[Christian Bachelder]

Hi Amber and welcome to the great resource that is Bigger Pockets!

Having these two properties paid off is a great place to start. Is it possible to build on the 10 Acres you have? What is the zoning? What is your forecasted ARV for the 250k property? These can be huge determining factors in deciding what the best move might be moving forward. I run a real estate and mortgage brokerage out of LA so if you ever have any questions with creative financing or forecasting properties values, I'd be happy to help. Let's connect sometime!