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Updated over 5 years ago on . Most recent reply

User Stats

6
Posts
2
Votes
Humberto Martinez
  • Real Estate Investor
  • Northridge, CA
2
Votes |
6
Posts

I did my first single family home investment. What next?

Humberto Martinez
  • Real Estate Investor
  • Northridge, CA
Posted

Ciao BP family

I have purchased 2 years ago my first single family home. I purchased it for $485k FHA and my current balance is $458k. I've invested approximately $20k converting the garage to an in-law.

My monthly costs are $3,300/month and I take home approximately $600/month.

I believe my house is now work approximately $600-$620k (checked comps online).

I don't know what should be my next steps. Unfortunately I don't have much left over cash. I feel stuck. Since I have a loan under my name and I'm not able to put 20% on another loan. What do you suggest?

Should I sell? Should I refi?

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