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Updated over 6 years ago,

User Stats

4
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0
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Jerry Rice
0
Votes |
4
Posts

Looking for Advice Please

Jerry Rice
Posted

Im looking for advice. My goal is to own 3 properties (New York, LA, Honolulu) . Ive figured in the nice areas houses go for about 800-900k each. I want to own these places, rent out the extra bedrooms and stay in the masters as I travel. Researching zillow ive found places "they say" will appreciate in value. Heres my financial situation

I own one home with about 400k in equity that i can rent out for 3500-4000 a month

I own a triplex worth 900k that makes about 1500 month net now

Cash I have about 2M

income now is about 100k year

Im in my mid 30s

Should I buy 1? Buy all 3? All cash for 1? Loans on 1,2,3? Id like to keep the house I have now and rent the entire house out

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