All Forum Posts by: Daniel Lungaro

@David Pere Thanks for the invite, I messaged Donald Appleberry back.

@David Minaya Definitely always down to connect. Congrats on the property purchase!

@Twana Rasoul I responded to your DM, thanks!

@Lawrence Dy I actually just recently did a VA IRRL to lower my interest rate from 4.125 to 2.25. It's saved me almost 400 per month in my mortgage payment which is great, however, it means I need to keep this property for at least a few years to make the refinance worth it. If I move, I feel I wouldn't have much trouble renting it out, cause I'm very close to the two While I feel SoCal home prices are a bit too high for me to invest in, it never hurts to keep an open mind and check the numbers. Thanks for the input!

@Bill B. Definitely hear you on the home prices and how people always think it's gonna crash. I mean by all rights the stock market should be dirt low, but it's made some monumental gains since the initial dip last March. That's strange how close house and apartment rents are. Do you think there's the potential for house rents to go up if more people "wake up" to the deal of renting a house, or is this just a fact of rentals everywhere? I grew up in NY and was stationed out in SoCal, and it really is a great place to live. Long term though, I think the ever-increasing absurd cost of living will probably prevent me and my fiancee from retiring out here, plus the high taxes.

@Michael Robbins I haven't looked into Henderson much, but it seems like a good spot to checkout, thanks!

@Bill B. Thanks for the perspective, I wasn't even considering the long term problem of selling multi-family property and severely limiting my shopper base. In addition, it seems you probably get higher quality tenants who have a longer tenure with SFH.

How do you feel about the current home market in Las Vegas? Do you feel it's a bubble? My one concern with the current prices is that Vegas is a very gig economy driven city and they had one of the highest unemployment rates in the United States. Are there a large amount of soon to be foreclosed homes, both from homeowners not paying the mortgage, or from landlords whose tenants can't be evicted and therefore are not able to make payments? The eviction moratorium in Las Vegas ends at the end of March, so I'm keeping my eyes open for that date.

I know some of this is "crystal ball" stuff, but just some of what I've been looking into to make an informed decision. I really appreciate you taking the time to offer up some of your advice, thank you!

@Stephen DeThample I'm not tied to multi-family homes, so if single-family homes are the smarter deal, I'm willing to look into them. Is there a particular reason multi-family homes are tougher? i.e. local/state laws etc... Thanks for your input!

@Steve Rozenberg Great response! Backward planning is a fantastic strategy and I should be using it more here. I'm still very much in the research stage right now. My end goal is financial independence, with about 10k of cash flow keeping me and my fiancee beyond comfortable. I'll have to draft up a more detailed and realistic plan with those numbers. Thanks for your input!

Hey, how's it going! I'm excited to be here at Bigger Pockets. I've always been interested in real estate but I've really ramped up the research the past few weeks. I read "The Book on Rental Property Investing" by Brandon Turner and I'm reading "BRRRR" by David Greene.

I currently own and live in a 2 BR 2 BA condo in Vista, CA which I purchased with a VA loan in 2018. I'm looking at investing in multi-family rental properties, most likely out of state, but I'd love it if I can find a good deal in SoCal! For out of state, I like Las Vegas and Yuma, Az, however, I'm very open to any prime areas within a few hours drive.

As for my career, I was in the Marines for 4 years after College from 2016-2020, and I've been working as a software engineer since I got out.

I'd love to connect with anyone from SoCal, especially if you do any out of state investing, or really anyone who's interested in networking. I look forward to it, thanks!