All Forum Posts by: JaNae Anderson

@Ryan Hopkins thanx for the advice and this is very true. I'm able to manage the risk, just want to make sure it's calculated as much as possible. I would like to have 10 doors, making a minimum of $200 cash flow per door in four years. So I'm not sure if it's the best decision to keep my home as the first door or to sell and use the money to purchase multiple doors quicker within the next four years. I will also reach out to your wife @Heather Hopkins. 

@Jo-Ann Lapin. I mentioned in my previous post. The area is Vallejo, Ca (Bay Area) and it's trending extremely well. 

Sorry guys for not putting enough info, newbie mistake. The house is valued at $400k or even $410k and the remaining Loan amount is $200k. The operating expenses include PTI, HOA, Vacancies etc. $2,500 is the going rent at this time. This is a real situation that I'm trying to analyze. This home is located Vallejo, Ca (Bay Area) where it could continue to appreciate or it may have reached it peak, Not sure. @Greg S.

To all the questions asked @Brent Coombs I don't quite have all the answers yet but I would like to keep my next purchase between $100-$150k. As mentioned I'm a newbie seeking advice and suggestions. I appreciate the feedback. Please let me know if you guys need more info to help. 

What would you do if you had a house that has $200k in equity and your looking to start investing in real estate? 

Option #1: Rent the property out for $2,500 a month, with a operating cost of $1,850? 

Option #2: Simply sell the property and walk away with $200k?         

Option#3: Leverage by using thw equity to buy a rental property while also renting the property out for $2,500 a month? 

Thanx everyone for the great advice. It seems like I'm on the right track. I'll will continue the search. 

I have to wait for two months to get a traditional loan from my lender because I'm on maternity leave. When your on leave you don't receive your consistent payroll check which is what's needed to get a loan. The problem I'm having is that I can't stop looking at good deals that continue to come up. Any advice to get around this situation or should I stop looking until I can get the loan? 

@nicolas paez you made a great point. I love that advice because I'm in a similar boat as Karla. I'm also looking to purchase rentals in Texas (Oakcliff, mesquite and Desoto.) 

I'm in a similar situation. I'm going to turn my primary residence into a rental which will cash flow very well after all expenses. I also have over six figures in equity. I've tittered back and forth on selling or renting. I can't help but to think if I sell now the market may continue to go up and if I don't sell the value will go down. crazy..... Huh? Decisions, decisions, decision.... I'm leaning heavily towards taking the equity out and using it for my next rental investments. Thoughts? 

Thanx @Mark Pedroza I appreciate it. 

Good morning BP folks. I'm looking to join local investor meet ups in the Bay Area. If your aware of any, please let me know. Enjoy the holiday :-).