All Forum Posts by: Danae Aballi

I have one rental property that's an SFR and my goal is to have 10 units ($700 a month X 10 units = $7,000 a month which is my living expenses and financial freedom number). So my question is what's the fastest and best way for me to get the 10 units? I have a couple options available to me since my rental house has $160,000 in equity. I bought it for $230,000 and it's now worth $330,000.

From my point of view: I can sell it and use the $160,000 proceeds to buy 2 houses (turn one house into 2 houses or a duplex or potential Tri-plex?)

I can cash out refi the original $60,000 down payment and BRRRR it into a new house.

Also FYI the mortgage and interest payment are only $787 and my tenant pays $1750 per month. I do have property taxes and insurance and property manager of course too but overall I'm happy with my cash flow.

Do either of these strategies stand out to you as one being better than the other? Would you sell it, or cash or refi it? Another alternative is to simply save up my next down payment and not so anything.

Advice and feedback welcome, thank you all!

I’m pretty excited about Coolidge. In the nearby city, Casa Grande they just opened the Lucid Motors EV car company’s manufacturing as well. Good growth

My first rental I bought brand new construction. It rented out in 5 minutes and I sleep good at night knowing every single thing is brand new. Honestly I highly recommend it. You can get a fixer for cheaper but once you start having major systems get run down it can ruin your cash flow. Also the benefit of brand new is there’s no bidding war. The price is the price. It was really Good for me for my first investment. 

I am a real estate agent and anticipate 15+ offers on an upcoming listing so I'd like to use technology to help me manage the multiple offers. Currently I use GoogleDrive and just manually build a spreadsheet, and then save all the offer emails in the google drive folders but it's quite time consuming and prone to user error.

I did some googling and found MLSOffers.com 

Has anyone used this platform and/or any other tech you recommend to make managing the multiple offers any easier?

Im a South OC real estate agent that works with a lot of buyers. I can tell you from the buyer prospective - everyone seems to now embrace Luxury vinyl so you should be fine. My advice though is to be extra selective with the color. Do not buy one just because it’s on sale ... make sure the color is not too grey and not too red either. Just a really neutral light grey light tan blend will appeal to the huge majority of buyers. I see flips where the flooring is too grey (too trendy and not everyone’s favorite anymore). Or too yellow/red - buyers want a neutral light oak looking floor. Also don’t pick one with a super high shine - buyers prefer the dull real wood look.  Good luck! 👍 

Super helpful. Thank you so much @Shiloh Lundahl!

I’m looking at it right now! Big truck company Nikola building a plant there now 

I couldn’t decide on Phoenix metro for the growth, or Tucson for the affordability but then I discovered Coolidge AZ which is in between both markets. The “path of progress” is to infill the Phoenix and Tucson markets to eventually be one. This is a long term appreciation play, and an immediate cash flow. Anyone have experience buying in a small city 30 minutes outside of a major metro? Any thoughts or feedback? There’s no restaurants or hospital for example but everything you need is 25 minutes away. It’s mostly suburbs out there