All Forum Posts by: Eric Dowling

Alex Paul first off, congrats on life taking a turn for the better! Second, if you are not even breaking even on your mortgage I would say you asking for trouble. So if I'm following right, you will move out of your condo into an apartment. Buy another unit and rent out the two, is that right? If that is the case you have a lot of over head, basically 3 house payments with only one cash flowing property. Every vacancy and repair will come out of the cash flowing unit, or worse your pocket. All your profits will be spoken for and then some instead of putting those profits towards another cash flowing property.

@Brett Diaz MREI is a great book, love it!

@Brett Diazbeep come to BP! You have come to the right place to learn. Be sure to check out the podcasts.

Don't hesitate to reach out!

@Eugene Seo welcome to BP! Millionaire real estate investor is a great book! Also check out the podcasts here if you haven't already.

John T. Welcome to bigger pockets! You have come to the right place! Great place to network.

@Fay Chen yes you have a good point. For you I feel like you wouldn't have to get to far away from Pasadena either to find a decent deal. Or maybe even find another area in Pasadena. Do you work in Pasadena as well?

RD Delgado welcome to BP! I feel like I've already seen you around! :) As you may know I'm a big fan of house hacking. Sounds like you're on the right track to reaching your goal. Let's get together and discuss our house hacking strategies!

@RD Delgado yes I have been seriously considering it. It is half a finding the right place/deal where we want, and half a convincing the wife it is a good idea. 

I house hacked back in college and it worked out great and I still have the property as a rental. There are a few more things to consider this time around.

@Account Closed yup I'm also with Keller Williams and love it. Can't beat the training and culture.

Fay Chen that is the same dilemma we are in. We are very set on living in a specific area of west LA, so buying is almost out of the question for now. A couple of years ago we bought a house in Palm Springs and we rent it as a vacation rental, and we rent here in LA. It is working out well. Obviously it is better to buy, and house hacking is a great way to do that, but when you have such a limited area it makes it hard. If you can expand your search FHA owner occupied multi is a great way to start.