All Forum Posts by: Amanda Black

Hi all. I live in San Diego, CA where everything is expensive. I want to start investing in real estate, so I put an offer in on a 1/1 condo that I could afford (awesome location, good size, needs some aesthetic upgrades). I met with an investor today and he said I am on the slowest, worst road to owning more property quickly. He advised me to go find a multi-family home and explained all the reasons why. I can not afford anything like that in California, so I was looking in Ohio (where I have some family) instead where it is affordable. It looks like I could maybe break even or be a little under each month going this route. I don't want to buy something just to own my own home, I want to buy something to eventually make money and buy more properties. But buying in a state I don't want to be in also seems scary/risky. I would buy in Ohio and rent in San Diego. 

What are you thoughts? I know I didn't ask anything very specific, but I would like to hear your experiences especially if your first property was somewhere far away. 

Hey all. The only loan I qualify for is a first time home buyer loan based on income statements (of my business). The interest rate is going to be really high, about 8-9.8%. I talked to my broker about refinancing in 2024, but based on what I’ve read, it’s not predicted to lower THAT much. 

Would this stop you from buying? This will be my first ever purchase, and my goal is for this to ultimately be an investment property. 

Thanks!!

I am trying to break into real estate investing with my first purchase. I live in San Diego, California, and buying something to rent it out doesn't seem like a cash positive or even break even option. 

If I live in it a couple years, will this eventually change?

Or to make money, do I move to a city where this isn't the case?

Thank you so much for any advice!