All Forum Posts by: Sean Harris

I thought about hloc for sure I just don't know if it would be good or bad as far as far as security reasons. If I were to lose my job sooner rather than later "worse case" then I could jeopardize losing both homes.

Hi all, I have a question and I am in need of some advice. I have been wanting to get into the real estate game for some time now and I have been doing my homework on location and what types of property I would want to get into. I think I am interested in investing in SFR in San Antonio to hold and rent out. My predicament is this. I currently have a job that pays well but in the next 10 years they will be closing the doors and I am wanting to make real Estate my full time job over that period. I currently own my own house with a attached unit that provides great cash flow. The thing is I want to buy property in San Antonio but I don't know the smartest and most effective way of coming up with the 20% on the house. I don't have 20k just laying around but I do have equity in my current home. So what's the best way to round up the funds for investing? Thank you

As far as finding homes within my budget that all depends on what loans i am able to get out of state. Are most loans out of state requiring you to put down 20% or are there there ways? California is not like most states haha

Thank you for your response Eric, that was a lot of helpful information that i was confused about. i would be interested in your data just to take a look at it. i'm just trying to get as much knowledge as possible before i make a move, i don't want to go into it blind. looks like i cant PM you unless i am a paid member.

Thank you! I have just been reading a lot about other peoples investments in the cities of Dallas, Houston and San Antonio but like i said i know nothing personally about these areas other than some of the research i have done. Another question i have for you all is, I'm not sure how everyone looked when they stared out financially, but when you were in my shoes and thinking of buying your first investment property out of state, what made you buy where you did? There are a lot of good areas out there so what made you narrow it down to just maybe one or two? Also what kind of loan did you use? FHA with 3.5% down or conventional with 20%?

yea that's the issue i'm trying to wrap my head around, is finding the right state or area to invest in, with no boots on the ground.  like i said before i live in CA and i have no other family or Friends that live in any other state other than Henderson NV which i heard can be an ok place to invest. I just need to figure out at least what state would be good for me to start, then i can narrow it down more as far as which city and so forth. I'm thinking i don't want to spend anymore than 200k on a multi family or single family home. That's what i have been hearing is Texas has a good home prices to rent ratios.

first off thanks for your response but far as my budget goes im not 100% sure since recently we put money into our current house for upgrades so that has set me back a little bit. What i do know is that i wouldn't be able to put down 20% cash down on a home. i have been searching a lot of different areas after talking with people i work with as well as what people are saying on the forums. i keep hearing a lot about Texas, Michigan, especially Grand Rapids area and Indianapolis. The more info the better if yopu have anything that would be helpful i would appreciate it.  i have already learned a lot just from reading other peoples experiences. when you said work with the experts who do all that kind of stuff, who exactly are you talking about?

First off i just want to say hello to everyone. I have been on the website for a little bit now, listening to podcasts and reading post after post racking my brain trying to decide how to invest and what to invest in. I believe that i have narrowed my niche down to small multi family homes or single family homes that will provide good steady cash flow. Unfortunately where i live in California "central coast"  is smack dab in between of San Francisco and L.A. is very very expensive especially right now. So that being said, after talking with people i work with who have rental properties out of state i want to try to dive into this in hopes of one day making this a full time thing. I own a house currently and have a rental unit on the property that i rent out and put the money toward my current mortgage. I have some questions such as how to find the right states/counties to invest into with my budget and how does the insurance work being out of state. it just seems very intimidating to me, i just need some help on the basics to get the ball rolling.