New Member from Glendora, CA (Los Angeles)

[Jonathan Watson]

Hi BP people!

My name's Jonathan, and I'm a father of 3 kids (6, 4, 2) with 1 more due this October. Yes, they're cute (and of course, I'm biased :) ):

I'm also a co-owner in a design/web/strategy business that's been going strong for 16 years--and we've also branched out to work with smaller scale web projects recently.

My business has allowed us to let my wife be a stay-at-home mom, and live in a great city outside of LA with one of the best local school systems.

Currently, our net worth is tied up in a pretty big chunk of equity in our Glendora home (bought it 10 years ago, and have it on a 15 yr fixed now), and a large of amount of stocks (that have done very well for us) we invested while my wife worked in Starbucks corporate for 10 years.

So, now I'm looking to diversify and increase cash flow by purchasing 1 or 2 SFH rentals this year.

But not here in Glendora. Or within 40 miles of my home. The ROI on buying a SFH around here just doesn't make sense to me--on larger MFH, you might be able to find something, but I don't have _that_ much to invest.

So, I'm looking out of state for my first investment to purchase in cash and see a small start to additional monthly cash flow, rather than letting the equity in my primary residence sit and do nothing for me.

I've spent the last couple months listening to BP podcasts, reading a couple books, picking the brain of a realtor friend, talking to a mortgage broker, discussing investment accounting practices with my CPA (which, once again, confirmed to me how absolutely stupid and suffocating California's tax code is), and talked to a couple turnkey providers.

I'm getting close to feeling comfortable in purchasing my first investment. But I'm going to wait for the best opportunity... I just hope it comes before I have to pay for my 3 year old's preschool bill! :)