New Member from California

[Faiz Yusufi]

Hey everyone!

After days of reading up on BP forums, I've finally decided to join.

I am from Woodland Hills (Los Angeles area). I currently work as a loan officer. I own two residential rental properties in the San Francisco Bay Area. I bought them in 2008 for $200k each and they have gone up to about $400-$450k. I am looking to expand my portfolio.

Right now, I can access the equity in the properties (about $190k total) and have about $100k cash. I have thought about buying multifamily units (5+) somewhere like Stockton, CA or Sacramento, CA. I have no experience with them but I know that the lender's qualify on cash flow - which I like...and also the fact that appreciation can be forced for multifamily properties.

Just curious to see what the experts on BP would do if they had access to the funds I do and wanted to expand their portfolio. My whole goal is to build passive income to retire early from.

[Ryan Landis]

@Faiz Yusufi welcome to BP! I would highly recommend reaching out to some of the local BP members and seeing where they are putting their money (not sure if you have a connection to Stockton or Sacramento but I know there are places down south that have similar price points). 

Also, not sure if you have thought about it, but you could also 1031 out of your two in the Bay Area depending on how you are doing with them. It looks like you doubled your money on each - so congrats there!