Hello from Redding, CA

[Rodney Smith]

Hello everyone! I'm excited to have been referred to the BP community (and podcast which i've been listening to like an addict recently). My wife and I bought a 4-plex in 2011 and a SFR at the end of 2013 (both in Redding California Shasta County) as a means to create passive income while making some career transitions. As i've been learning more about REI I've been increasingly intrigued and want to grow my skills in this area as much as possible. My wife and I are now in the planning phase all over again as REI becomes more of a long term priority. We are currently looking into various strategies (at this point primarily rentals in the midwest / south and or vacation rentals), but are still very open to various strategies.

Looking forward to learning from you all and thanks for sharing your experiences and knowledge!... I'm pretty green but i'm happy to share my experience with our 4-plex and our SFR (HUD home rehab) if it would be helpful to anyone.

Thanks!

[Rodney Smith]

@Dave Visaya Hi Dave, so far we bought our first property, a 4-plex in Redding CA with a detached 4 car garage for $194k and have it paid down a bit from that. We got a pretty good deal for the area, but it's now worth the high $200's to almost $300k so i'm seriously considering selling it to take the capital and invest deeper into a better rental property city (see last post to Ali) ... Anyhow before I do anything i've got to nail down a strategy / plan with much more detail.

Our 2nd property is an SFR (3/1.5) that we bought off the HUDhomestore.com for $61k and have updated. This property has been my 'education' if you will. We will have about $85k into it and it should have an ARV of roughly $125k-$135k (we will be done with the rehab in about a month). Our intention is to live in this one, for the short term at least. We've even toyed with keeping the house as a furnished vacation rental on VRBO, AirBnB etc. and using the 4-plex capital to expand our investing capabilities. I'd love to hear peoples experiences with vacation rentals / furnished rentals & the VRBO's.