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All Forum Posts by: Amber Tippett

Amber Tippett has started 2 posts and replied 25 times.

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Matthew McNeil Absolutely, thank you!

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Lee Bell Haha! It’s crazy right?? That’s what makes investing scary..our house more than doubled in value in the six years we’ve owned it but it foreclosed on the owners before us!

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Dave G. Thank you for your input!

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Justin Margedant Still definitely in research mode, but one thought is near my Property Manager Dad who I’d trust to handle it-he is based in Fillmore, so maybe west of there towards Santa Paula or east in and around Santa Clarita. You say high desert, like Lancaster area?

Post: New member from lovely Long Beach, CA

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@David Acosta Hey Thanks! What are the best meetups in your opinion, and would you share the details (when/where)? Appreciate it!

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Lee Bell Would love multi-family! Have you invested in the valley? I grew up in Canoga Park

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Peter Schultes Thank you for the deets! Sounds like you have a great thing going. $47k is like a dream-A 2/1 1,000 sq SFH in my area is about $500k, haha! I'll be getting creative for sure. Best to you in all your ventures!

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Steven McCutcheon Thank you for your advice and have a fantastic 2019!

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Jon Lanclos Excellent, thank you! Buying multiple homes to start out is scary but I will definitely consider it and learn as much as I can before jumping in. Where I live in SoCal is pretty dang expensive, so I’ll be looking into other areas. Not sure how far I want to go (again, mostly psychological). Appreciate your input!

Post: Should I use equity from my home for downpayment on first rental?

Amber TippettPosted
  • Long Beach, CA
  • Posts 25
  • Votes 2

@Sean Lambert Thank you for sharing your experience! Helpful to hear the details and nuance of how it can all play out. We are cognizant that the market may be slowing again, so we'll be careful with the numbers. So you repeated the process with a HELOC on your next property instead of BRRR? (Or is that the same thing as "cash out refinancing" as described for BRRR?) Thanks!