All Forum Posts by: Humberto Martinez

Ciao BP family

I have purchased 2 years ago my first single family home. I purchased it for $485k FHA and my current balance is $458k. I've invested approximately $20k converting the garage to an in-law.

My monthly costs are $3,300/month and I take home approximately $600/month.

I believe my house is now work approximately $600-$620k (checked comps online).

I don't know what should be my next steps. Unfortunately I don't have much left over cash. I feel stuck. Since I have a loan under my name and I'm not able to put 20% on another loan. What do you suggest?

Should I sell? Should I refi?

@Mike Franco I've been in property management for years and tenants have always tried to pull the mold card. No case has ever won due to mold. Yes, you are responsible to make it habitable. Which means heat, running water and electricity.

Insurance has nothing to do with eviction, it has to do with repairs.

Hello, 

 I would greatly appreciate if you would help me understand.   

I'm happy to say thanks to BP, I'm closing escrow on my first home.   But I have enough money (20%) to invest in a second home.   I was told that I could not get a second loan due to the debt income ratio.   Is that true? 

Awesome.  thank you for the input.  I think I just need to save a little more in order to get something worth wild. 

Hello Team,

I've been an employee in the multi housing community for a few years already.  I would like to buy property in the my area but cannot afford anything.  All homes begin at approximately 400k.  I was thinking in purchasing a few rentals in the area of Bakersfield CA or any other area.  I currently saved $20k and feel stuck.  I would greatly appreciate any advise.