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Updated over 5 years ago, 07/26/2019
Whats Next??? Whats your strategy??? I NEED HELP!!!
I'm trying to decide my plan of action and want to get some input from you guys. I'll break down my situation and my questions so I can get clear answers.
Situation:
I live (rent) in Los Angeles and am looking to purchase a home to live in. I was approved for the low 500's but I would like to stay below that to maintain cashflow.( townhouse or small SFR) I really need a home becuse I've been in my same tiny 1 bed apt for 7 years but now I need a house for my fam.
I own two SFRs in Atlanta. Purchased in 2017 for about 65k each. They are now valued between 130-150k each. The mortgage is now about 440 on each plus $100 p.m. but it will go up because property tax went from $800 a year to about $2200. They rent for 950 and 1000
Questions:
I want to buy a home in LA but still have enough cashflow to keep investing.
Should I refi or heloc the atlanta houses to buy more?
Should I refi or heloc the atlanta houses to buy a house in La ?
Should I rent in LA and just focus on investing?
How can I have my cake and eat it too
What would you do in this situation. I'm sure you guys have some much better ideas than me.
Thanks friends