Hello from SOCAL-need ADVICE

[Roslyn A.]

This is my first post on BP but I've been listening to all the podcast and looking at the site for a while. I would like to get more serious with my investing. Currently, my husband and I own 2 condos in orange county, CA. The first condo is fully paid for. We paid 130k for it and is now worth about 230k. I'm only cash flowing about $500/month after expenses on it. I have good tenants and its not much trouble and in a good area, but HOA is so high. My second condo was just purchased in May and worth about 250k. We probably will have it paid for in 2 yrs. We get about $800/mo after expenses.

I'm a pretty conservative investor but can't help thinking that I should get more return on my money. I'm thinking of unloading my first condo but could not decide on where to put the money. I've thought about just getting a heloc and private lending but after paying the 5% interest, doesn't seem a lot left. maybe mobile homes seems a lot of work, and i'm afraid of out of state where I don't know the area or can check on my properties. I have a full time job and don't have too much time to spend on managing. However, I would like to someday maybe 5 yrs, double my cash flow or equity. What do you guys think is the best move?

I appreciate any thoughtful advice.

[J. Martin]

Hi Roslyn , and welcome to BP! I’m a ‘fix and hold’ investor from the Bay Area in CA, and loving it! But you’ll find a variety of every type of investor on the site, and everyone is amazingly helpful. Some pointers for you: The "Learn" link across the top navigation bar has lots of great info, and so do BP members! You can click on the ‘vote’ button if you like someone's post or is helpful, and there are ‘awards’ to earn on your profile. And you can tag people by typing @ before you type their name, then clicking their name at the bottom of the message box. Welcome to the site, and good luck in everything!