All Forum Posts by: Ornella Kaneza

Hi, basically, I have 50k of equity and want to pull that money out (HELOC) and use it for another deal, which I'm trying to figure out. I bought the townhome that I live in and renovated and increased its value and added a whole bathroom. Now I want to go to the next step of my investing journey but I'm not sure yet.
First, I could use that for a down payment and renovation for a second house to rent it out on Aironb or long term tenant. 

Second option, if it's even valid, I could build a new house in one of these new communities and then have the house for another few months and sell it (assuming that it would have increased in value) Any input to any of these two strategies would be highly appreciated!

Thank you!

Hi,

I’m a new investor and thought I would share my strategy here to see if there is any input that could help. 

A year and half ago, I bought this townhome (2bd/1.75ba in Phoenix AZ) that I have now renovated to 2bd/2ba, new floors, appliances, new backyard, new bathrooms. The area is near a school, maybe a c+. It looks like I could ask for 1600 dollars while the mortgage is only 1.1k. 
I’m moving out of state for another job, and still want to keep the property as the mortgage is low and can make At least 400 dollars on it per month. 
I talked to lenders and it seems as though I can take out 42k cash and I’m thinking about using that cash as down payment for another house in Virginia (Lorton, Woodbridge, Fairfax areas) and renovate, and house hack until I can do that again with another property.

End game for me is to get enough cash to get into foreclosures. The equity cash right now is not enough to get started yet. 

Any input on any of this strategy would help as I analyze the different avenues I could take? 

Thank you

Which property management company would you recommend for the Tucson, AZ area for an investor that lives outside of Tucson?

@Michael Leung , thank you for responding to the post. 

And yes, I am looking to invest in RE, so of course, I would bring money to the table.

Also, I would appreciate if you could tell me where or how I can connect with other investors like you in Tucson, and fromthere be able to know how is the market in Tucson, and what would be the best way to start here (flipping houses or buying multi-family housing). 

Thank you

Hello BP community,

My name is Ornella, newbie here, brand new to investing. I am a property manager for 3 different apartments here in Tucson, and have lived here, for now, 3years and have a good credit, but so far that is the only experience I have in RE.

I'm looking into buying and flipping houses (still hesitating which one would be the best way to get started between flipping houses or house hacking) but also I'm 23 years old, would you recommend finding an other RE investor to team up with for my first deal?

I'm looking to get in touch with more people as well.

Thanks for reading, feel free to get in touch!

Ornella

Thanks to all of you for welcoming me. 

Hello,

My name is Ornella, from Arizona. I am a property manager and student in accounting and business. I am here to learn and take my career to a whole new level as a real estate agent/investor.

:-)