Please give me some advice. I want to buy in LA

[Erik Smalls]

Hello

I haven’t been here in a long time because I very rarely have money to invest.

I bought a half-duplex in Belleville NJ in 2017 for $188,000. The Zestmate is $265,520. I owe approximately $175,000. I have a tax lien of $52,000 for back taxes. I am an independent contractor. My annual salary is on average 60k. My credit score is fluctuating between 650 and 670.

For the past 3 years I have been spending winter months in Los Angeles. I rent my house out from October to March using Airbnb. It pays the mortgage. In LA I live in a single room occupancy that cost me roughly $1600 per month.

How will I be able to buy a cheap home in LA using the equity from the first home? My idea of cheap is between 200k and 300K.

I’ve just located a townhouse in Van Nuys. If it’s possible I’d rent it out during the summer months to cover the bills.

All of this is considering the U.S. comes back to a normal we once knew. I think this is a perfect time to buy.

How can I make this dream a reality?

I appreciate your help.

Erik