All Forum Posts by: Kenny Manchester

Hello,

I am having the same issue as everyone else. Listening to the book for a second time and want to utilize "The Book On Managing Rental Property" bonus for notes and references as I am working to rent my first house out. I bought the book from Audible on November 20th, 2018. Can someone please help me get the access code needed for the bonus material?

Sincerely,

Kenny Manchester

Great job Anton! Thanks for sharing your success story.

@Brent Coombs , I don't really want to pay $2,000/m to rent. I would prefer to keep this house, rent it out, and take the equity and buy something else. The equity loan would be around $190k according to my local CU. I would need to be careful to make sure this home still cash flows with the additional HELOC loan. Another idea is I could just look for a good deal in my area on a duplex or triplex and take out a new FHA loan at a low down payment, meanwhile just keeping my current home without taking additional loans on it and rent it out for substantial cash flow (problem being finding a good deal in my area). My current home is under a Conventional 30 year fixed.

I do not want to uproot my family yet. Maybe once I get enough wealth under my belt. My wife is 100% on board with whatever we need to do to become financially wealthy. Even if that means leaving a house to move into an apartment or duplex or something that will be uncomfortable to be able to grow our wealth.

Thank you for giving me some stuff to think about and consider, I truly appreciate it.

Kenny Manchester

@William Brown I agree building knowledge is key in any investing or any aspect of life. As so many others would agree, this is why Richard Kiyosaki's book "Rich Dad Poor Dad" is a great starting point for any want to be investor. I do not want to misplace my equity or savings and is the main reason I wanted to hear as many ideas as possible. This gives me a chance  to learn what others would do in my position.

@Alina Trigub I want to be an active investor as this gives me the chance to control my investment, I could change and shape my portfolio as needed. My goal is Multifamily. In fact I would prefer to skip SFH investing all together unless it is something with three to four units. I am in this for the long haul, I am 29 years old and I have large goals to achieve.

Thank you both for your input. Learning is a lifetime endeavor, I will continue as you guys suggested.

Kenny Manchester

Hello BP, this is my first time posting to the forum. I have been following BP for a while now and have been working to build as much knowledge as possible for my endeavors in Real Estate. I would love some input from all of you BP professionals.

My first home purchase was when I was 20 years old, I purchased this home because I couldn't see any benefits of renting. I reside in CA. I currently have $220k in equity in the home. Rents for similar properties are going anywhere from $1,700 to $2,000. My current Mortgage payment including taxes, and insurance is $980. I have done my research including Brandon Turners book "Long Distance Real Estate Investing". I have also saved around $20k in reserves for future investments. I am looking at properties throughout the U.S. as CA is a very expensive market.

Should I take a HELOC on my current property and take the money out of state for a bigger Multi-Family purchase? Should I sell the property? The only thing that is slowing me down a bit is being tied down to a very good paying job and having a wife and two children. If I sell we would need a place to live. What are your thoughts on renting for the short term? I have even been looking at some two to four unit buildings in my area that are more on the expensive side, but I could house hack them. I love this real estate game because there are so many options. This is why I need some advice from all of you Real Estate professionals.

Thanks for taking the time to help me with this exciting issue.

Kenny Manchester