First Deal with FHA - How did you scale?

[Allan Pilapil]

Finally closed on my first property in Stockton CA. I used an FHA loan. What are some steps to take if I want to buy another property within 12 month? I want to buy a fourplex. I will be saving $2K+ a month and should have 30,000 liquid cash by the end of 2021. Some options I was considering are buying out of state, refinancing, 1031 exchange. Etc

What are some ways you scaled from the bottom up?

Thank you!!

[Mark Albini]

@Allan Pilapil buy out of state. It's too hard in California. I've tried it and did 2 houses in Oceanside. And after spending over $150k just on down payments, I was tired if it.

I've helped many people from California, including some on this forum, invest in Evansville Indiana. I personally have long term rentals netting 10-45% ROI on SFHs. Median in most of Evansville is $145k, while I try to stick at 80k and under. 20% on 80k for down payment is much nicer than CA.

I'm a licensed Realtor here, if you have any questions about the area, I'd be more than happy to answer them.