Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago,

User Stats

4
Posts
0
Votes
John Lawrence
  • San Diego, CA
0
Votes |
4
Posts

New Member, interested in some advice

John Lawrence
  • San Diego, CA
Posted

Hello all! 

This is my first post, so I'm going to lay out my whole situation and I'd love some expert insight as to what I should do.  BLUF:  I have real estate, some investments and assets, and some inherited money in a retirement account.  I'd like to lay out the rough numbers below and see what you all recommend my course should be.  I am extremely passionate about real estate being my future, so I want to make sure I stop making misinformed and uninformed decisions, and start winning on investing.

First off, my name is John.  I'm currently active duty Navy and have been in almost 12 years.  I'm living in San Diego County for now but transfer in about a year and hoping to go back to the east coast.  2017 and 2018 have seen some massive changes in my life, some good and some bad.  

The financials are as follows:

TSP(Government 401k): approx $40k

Inherited IRA: approx $115k (withdrawals affect taxable income levels)

Cash:  approx $10k (recently paid off ALL consumer debt including car, so building this up at a rate of about $2.5k/mo)

Precious metals:  probably about $20k worth

Real Property: 4 houses

#1: Single family

Current Mortgage: $163k (PITI = $970/mo)

Estimated Value: $160k

Rent:  $1195/mo

#2: Single Family

Current Mortgage: approx $140k (PITI = $1088/mo)

Estimated Value: $200k

Rent: $1385/mo

#3: Duplex

Current Mortgage:  approx $120k ($1120/mo)

Estimated Value: $165k

Rent:  $825x2 ($1650/mo)

#4: Condo

Current Mortgage: $60k (PITI+HOA $853/mo)

Estimated Value: $80k

Rent:  $850/mo  (I rent this one to my sister, so this one is a wash)

So my questions are... Should I keep everything I have and just focus the capital I'm building through savings and the other cash assets on new rentals?  Should I focus fire down the duplex to get it cash flowing more?  What should I do here?  I feel like every one of these properties were purchased at market value, above the recommended levels for cash flow.  I'm sort of in a holding pattern right now because I'm not sure what my next step should be.

Thank you all for taking the time to read this, I've been listening to the podcasts now for a few months but finally made it over here to the forums and I'm looking forward to being more engaged.  Looking forward to your advice and responses!

John

Loading replies...