All Forum Posts by: Adam Regos

@Maxwell Ventura would you wait to see what happens with Covid and foreclosures?

@Twana Rasoul at that range let's just say a 700K duplex how long would I have to live in it before I could build enough equity to cash out refi and acquire another property? My lender says 80% LTV which seems like it could take a while only putting 3.5% down. Not to mention my mortgage payment would probably be around 2,500+ a month. Should I buy a fixer upper to build equity quicker? What's your experience in the San Diego market? Move every 2 years to rinse and repeat? Cash flow seems near impossible when I run #'s in SD. Thanks for your time.

@Ujwal Velagapudi thanks for your feedback. I just can’t see the path to full financial freedom in the next 5-10 years in San Diego. Very hard to get to 6 figure of cash flow which is the goal. I looked at your profile and want to step into more cash flowing markets and get out of corporate America. What would you suggest now knowing my goals and timeline?

@Twana Rasoul I like that idea but don't I have to have 80% LTV to use a cash out refi to move on to the next duplex. How long would you estimate that taking? My lender hasn't been super clear on that. Also using this strategy seems like a long haul to financial freedom where my goal was to quit my corporate job in 5ish years and go into investing full time.

@Mark Frattini with my lender and realtor I've been looking local and it looks like the only possibility is a duplex. Triplex and 4plex are out of the question with loan limits and financing right? I was looking at some duplexes in north park but even with FHA it would be about 50K down and would take a while to build enough equity to do a cash out refi. I just don't see the long term play in SD if I want to get into real estate investing full time. I could acquire 4 units in Phoenix at a lower price point that would cash flow I just don't have any relationships built out there yet and was playing the waiting game with COVID

@Oscar Sandoval thanks for your feedback. Everyone keeps telling me to wait but everything I read and watch says take action!

Lol

Currently renting in San Diego and have about 170K sitting in savings. I have thought of moving to Phoenix to house hack a 4plex and use the stack method to start building up my portfolio. Acquiring doors in San Diego seems next to impossible in comparison to Phoenix or Nevada (the other two markets I am looking). Should I

Steer my focus in state to where I play the long game and buy a duplex locally, should I move to Phoenix? Are there other out of state markets? I also have a highly recommended property manager in Las Vegas. What route would you do to start building wealth? Thanks

First time home buyer trying to house hack in San Diego. My lender has mentioned I can't do FHA for triplex or 4plex and need to put a minimum 15% down. Is this the case? I am looking at FHA for duplexes but a lot reach jumbo limits and the ones that don't I am still looking at a minimum all in mortgage payment of 2,500. Any ideas on how to get started house hacking in San Diego? Any financing suggestions? Any fix up financing suggestions? Thanks!