Questions From a Rental Investor Newbie

[Seth Tipton]

Hello Bigger Pockets. This is my first post. I recently lost my job here in the Bay Area in CA. And I am at the very beginning of my exploration into passive income by investing in rentals. 

I have a house that I inherited in this location that Zillow estimates at about 1.3 million. It's in a location, Silicone Valley, that could bid up. It also has Prop 13 which means I only have to save about $40 per month for property tax. Bummer losing that. We currently make $2900 net rent from it since we have a management company.

We like Austin TX for the schools though, and hopefully friendlier culture. And we think we could buy, possibly, 4 houses there at about 300k and live in one and rent the others. 

I bought the Bigger Pockets books and will read them up. But my goal is to learn about real estate investing so I can make living income somewhere in a less ridiculously expensive place with good schools.

So, are there specific people I can call that specialize in what I am trying to do for consultation? I don't want to screw this up. I'd love to be able to snowball this too. 

What are some things to keep in mind with a goal of being a rental investor in a specific situation as mine?

[Ali Boone]

Why would you sell that Silicon Valley property? It sounds like it's infinitely profitable (since you inherited it and you're netting $3000/month), and it's likely only going to keep gaining in both rents and value, all while your property tax doesn't move.

Can a crew of Austin properties cash flow that well and have that much appreciation potential??