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Updated about 6 years ago, 09/24/2018

User Stats

46
Posts
26
Votes
Nick Colvill
  • Rental Property Investor
  • San Jose, CA
26
Votes |
46
Posts

Buying multiple properties in year 1 - can I keep this up?

Nick Colvill
  • Rental Property Investor
  • San Jose, CA
Posted

Jumping in to real estate was a well-calculated move. I live in San Jose, and this market is notorious for making people lose faith in their ability to purchase. 

I bought my primary residence in May of 2017 - a brand new million dollar 3 story 2200 sq ft home and closed on a 500k vacation/rental in Lake Tahoe right before the new year. 

The primary was financed with 10% down and the rental was financed with 20% down. 

I strongly believe the the community I purchased my primary in has massive potential upside, and have been blown away by the prices i've seen my neighbors sell their properties for within just a year of owning. 

I'm sharing this in the "success stories" section because I can't stand how discouraged people get, and I truly despise the mindset of "i'll just wait for the market to crash"

We need to find a way to make it work - no one will do it for us

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