All Forum Posts by: Patrick C.

Count me in, with maybe +1

Hi BPers!!

I live in Southern Cali (Los Angeles County) and work in the IT field for over 13 years. I started my first initial investment property in Arizona and have one in CA. I am looking to expand my portfolio. Currently both of my properties are buy and hold generating cash flow. (I wish I knew BP several years back.. who wouldn't right?)

My ultimate goal is to be able to get enough cash flow in to replace mine or my wife's income and I will not rest until I have achieve that :) I have been bringing myself up to speed on REI, strategies, and networking using BP, local REI group, Podcats, etc.

Feel free to connect with me for questions, investment opportunities, and tips & advice or even for IT questions.

Love the 60 min reminder via text feature.  

Phil Chandler & Brian Gibbons:

Some numbers for your information.

Mortgage is fixed 30 years.  I refinanced in 2013 and principle balance of ~$270K.  House value is at approximately $434K and bought it for $450K.

Expenses: mortgage $1270, Insurance, tax and HOA ~$650; repairs (5%) @ $95 built in 2003 so fairly good condition.

Renting it out for $1900 (i found out the market is around $2300 - so definitely needs to raise my rent.

@Oren Karp. Thanks.

Unfortunately, my so cal property is under water because I bought it back in 2005 as my primary residence. I bought another property as my primary so now renting out this property.

So I have few more questions - what would you do if you are in this position given that I want to build my portfolio further, specifically in AZ.

Knowing that my so. cal proper is under water and have negative cash flow with some equity, what will you do with it? I also have equity in AZ since I bought it right out.

Thanks.

Thanks @Steven Segal & @Rob Beland.  I did this after finishing my masters and student loan was at 6+% and Equity line is at 4+%.  Also, I wasn't able to deduct anything for student loan and I was able to deduct interests from line of equity.

Without considering the equity line,I definitely do have positive cash flow.  Although I just realized my second property is a negative cash flow. This was my primary residence before I moved.  So, I may need to figure out something. This property is in So. Ca.

Hello:

I am new to this forum and also to the real estate investing. I currently have 2 properties that I am renting out and started to really think about what I have learned so far.

In calculating cash flow for one of my properties, I wasn't sure if I did it correctly.  If I took out a line of equity to pay for my student loans for this property, will this be considered as mortgage/expense for this property?

If so, I may have to rethink my strategy because I am negative on my cash flow.  I am actually paying more than the monthly payment to pay it off faster.  Thanks for your help.