Do I need to start over?

[Mykie Rogers]

I recently discovered bigger pockets and after countless hours of watching and reading about the method I’m hooked. Although I think I might have a roadblock.

I purchased a 1000sq ft condo downtown Los Angeles in 2018 refinanced two months ago:

Original Purchase Price: $543k

Mortgage w/PMI : $2755

Interest rate: 3.25%

Loan Amount: 478k

HOA: $600

I’d like to start buying and holding but after researching and talking to other owners I figure I could only rent out my current place at $2600/month which obviously generate no income.

What are my options to get on track for success using the BRRR method?

Thank you and if you’re in the LA area let’s connect!

[Fay Chen]

Can you live there and rent out a room? Or two rooms?