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Updated over 5 years ago, 07/26/2019

User Stats

50
Posts
20
Votes
Michael C.
  • North Hollywood, CA
20
Votes |
50
Posts

Whats Next??? Whats your strategy??? I NEED HELP!!!

Michael C.
  • North Hollywood, CA
Posted

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

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