All Forum Posts by: Leslie B.

Thanks to @Tatyana Shevnina and @Ryan Landisfor the encouraging words and ideas. @Ryan Landis

Was wondering if an LLC could be used for the initial investment purchase of the rental and then I could use my own name for the live-in as first-time homebuyer. Will look into the FHAs more.

Hi @Linval T.. Thank you for all of the resources. :) Happy new year!

Hello! I am interested in owning rental properties in the Bay Area and Stockton areas of California. I live in San Francisco and have a goal of owning my own home (SFH or multifamily) in San Francisco, Oakland, or nearby.

Currently considering different strategies for my first purchase -- use first time home buyer benefits to purchase a Bay Area, live-in multifamily first, or start with steps toward that purchase by investing in more affordable rental-only multifamilies in an area like Stockton (and foregoing the first time home buyer benefits).

Am looking to connect with folks who could be part of my team for my first purchase and additional purchases down the line. 

Am also looking for mentors and peers nearby. 

I don't have much money, but I do know about urban and regional planning, transportation, municipal government, facility management (capital infrastructure), Bay Area culture and politics, data analysis, and computer programming.

Happy to meet in person over coffee or over skype.

Currently reading: Loopholes in Real Estate

As a first time home buyer, how can I get started with investment properties and retain my first time home buyer benefits for when I am ready to purchase my first home to live in? 

Currently, I live in San Francisco, I am happy with where I live and rent my home, and I cannot afford to purchase a property near to where I live and work. I want to invest in rentals in nearby towns to increase my savings and equity; this could put me in a better position to afford a home in/near San Francisco in a few years. However, when purchasing a home in the Bay Area with a median-ish earned income, I will need access to the first time home buyer benefits of lower down payments required and lower mortgage rates. What strategy would you use to retain access to those benefits? 

What other strategies should I consider to be in a better position to purchase a home in an expensive area like SF? 

What ended up happening with this property?

Will you speak more to the errors you made when estimating the cash flow/value of the investment before you decided to purchase? I am a newbie interested in an occupied duplex and would like to learn how to avoid the same mistake as you.