All Forum Posts by: Account Closed

@Penny Clark

Hi Penny,

I meant that I would be house hacking so these renters would be living with me. I guess I focus on cash flow because I am just going off of the rental property investing book but I'm not sure it fits the California real estate market so focusing on appreciation would make sense. 

I am definitely working on connecting with more investors in this area, that's great advice.

@Andrew Fielder

So you focus more on appreciation? Is cash flow needed help you have more funds to buy new investment properties?

Also sorry for the rookie question but what do you mean by return on equity?

Hello folks,

I have began reading the bigger pockets book on rental property investing and one of the things that Brandon mentions is to buy a rental property that offers cash flow today. 

My situation:

I am looking to buy a 2 or 3 bed condo or townhouse in which I will live in and have tenants. Given the prices in socal it's going to be very difficult to have cash flow from any property I chose to buy unless it's in an awful neighborhood. It seems as if my best options are having my tenants pay most of the rent while I am able to continue to keep working my main job and saving money by not having a pricey mortgage. Is this the best possible option in SoCal?

Thanks for any advice.

@Steve Snyder you bring up some excellent things to think about. I like the way you painted the picture of what I value more as that really brings clarity to what I want and my ultimate decision. 

I actually looked into an FHA loan and crunched numbers with my mortgage broker. He showed me that although the amount I put down would be extremely small, the montly payment would be insanely high. I think we came up with putting 10% down being a good number. Would it be possible to include rehab costs in to a non FHA loan?

Also I started searching for condos in NoHo and i found a few that are already fixed up and within my price range. Would that be the more ideal situation in the long run?

Hello folks,

I am new to both this site and real estate investment. My gameplan right now is to find a property that will enable me to continue saving money as I need to move out of my parents townhome. I was looking at buying a condo in North Hollywood or Santa Clarita that has 2 beds and rent one room out to someone else to help cover most of the mortgage. I already sat down with a mortgage broker to find out what my price range is. 

My question is, should I continue looking in North Hollywood, or should I focus more on Santa Clarita which is way further out from my work and pretty much everything else in LA but with beautiful new properties that are much cheaper?

I appreciate any help,

Jonathan