All Forum Posts by: Aldwin De Torres

Matt, 

Those are some pretty sweet numbers. I'm a new investor from the SJ area looking in the central valley area up to Sacramento for some decent cash flow as well. Real quick, on the property you mentioned, was that pretty much turn-key? I noticed there were no rehab #s in there. 

Thanks,

Aldwin

Thank you all so much for a quick response! I'm on board with all your comments. I've been listening to all the podcasts while driving and just downloaded the UBG.pdf. It feels really good to be able to relate with some of your comments.

@minh le You mentioned that you have meetups at Whispers. I know exactly where that is. What days/times do you meet?

@joey noel I'll reach out to you to hear a little bit more about your strategy!

Hey everyone! This place is amazing! I wish this was around 10 years ago (I'm 33 now). Background: I was always interested in accumulating wealth at a young age, but fell victim to the cookie cutter mentality of 1) go to college 2) get a good job 3) and die. I made up part 3, but you get what I mean. Anyway, I knew I wanted real estate in my early 20s, but made a decision to start a business that failed around 2007 when people lost their jobs and had no more expendable income. I was lucky enough to find an entry level job at a tech company and stayed with them for a few years before I left to start another business. 

Fast forward to now and my situation. I'm married with 2 beautiful kids and a wife that has been out of the work place to take care of them. Yes, we were able to find a way to live in San Jose on a single income! And no, I do not clear $100k/yr. My wife plans to get back to work to help generate us more cash to eventually buy a property.

After a long winded intro, we are in a situation where we have roughly $75k-$100k in equity if we sold our home. I looked into getting pre-qualified for a loan, but my W-2 and our business doesn't show enough income to make lenders feel comfortable. We are contemplating this:

Wait up to 6 months after my wife gets a job to qualify for a loan, then sell our home and move into a house hack or Single Family home to eventually rent out. However, by the time she gets a job and we wait 6-12months, the value of our home may change for the worse

I just hope we don't lose out on the equity that was built up. I would love to hear any thoughts or opinions or suggestions from you! Thanks! - Aldwin