All Forum Posts by: Grace T.

@Matt Devincenzo great advice! I will look into that. My property is in West Covina, so not too far from you. Thanks for the input! 

@Gerald Harris Thanks for the post! Forgive my ignorance, can you give me a little more information on property zoned? Does this relate to the permits necessary for building on my lot? I do plan on keeping the property as I'm currently renting it out and making a very MODEST income. I'd like to add another unit to increase the cash flow.  

In terms of final mortgage and expenses, that's the next step that I'm going to look into. Does it make sense to utilize the equity in my home to finance this construction? 

@Eddie T. thanks for the reply! In my area, homes are going for the high $400k's. Currently, I'm renting out the existing home and was hoping to add to the income I'm already receiving by adding another unit. So my goal is to hang on to the house and keep the cash flow there. My initial thought was to take equity out of my house to fund the construction of this new unit. Would love your thoughts in utilizing equity if any. Thank you!

Because home prices are so high in California, one strategy I'm considering is building on my existing SFR and essentially turn the property into a multi-family. The lot on my home is large and has room to build a "back house." I'm still at the beginning stages in terms of finding out building costs, financing it, etc. Any advice on things I should look out for, what to do, what not to do, success stories, horror stories? Looking forward to your input!

@Ellis San Jose thank you for the post! Looking forward to connecting with you. 

@Christopher Hunter being an out-of-state investor, what made you focus on Cypress, CA in particular? I have lots of friends and family that live in Cypress and the surrounding area. 

@Kenneth Hynes Thanks for the advice. I've moved cities about a year ago and I'm still getting to know the area here (North Hills, CA). I have my existing rental in West Covina, CA so I've been debating on what area to focus on. In terms of proximity and which city I am in the majority of my time, it is North Hills, CA. Thanks for the tip! 

re-tagging @Christopher Hunter  @Bryce Erickson @Peter Mckernan to make sure you all saw my reply to your posts. Still learning how to use this site! =) 

Thanks so much @Peter Mckernan!

@Bryce Erickson I'd love to know how many properties you currently landlord and in what areas. Are you primarily in SoCal? Home prices are so high in California, making it difficult to cash flow on SFR, so I'd love to learn what you're doing. 

@Christopher Hunter thanks for the warm welcome. I'm curious as to your focus on Cypress CA. Are you focusing on flipping, buy and hold? Would love to hear your story. 

Hi everyone! My name is Grace, 33 years old, and I'm a new real estate investor originally from the San Gabriel Valley and now residing in the San Fernando Valley... so I guess you can call me a Valley Girl. 

I've been a homeowner and novice landlord (renting out rooms) since 2008. I recently moved out, put my whole house up for rent and been very blessed to have some great tenants and a somewhat decent rent to cover my mortgage and most of my expenses. A break even situation, but I am eager to do more, learn more and GET SERIOUS as an RE investor. 

Stumbling across BiggerPockets in my research has really inspired me get serious and I think that's because this site just seems to be such a practical and valuable resource. It's not just about reading and absorbing, but it's about asking questions, engaging, and networking. 

My goal for the short term is to learn more about the different ways to invest in RE, particularly flipping, and find a mentor that I can work with. Looking forward to connecting with you!