All Forum Posts by: Robin F.

Andy: Thank you for your input, you have a good point regarding the benefits I pay for and do not directly receive. I will say, however; as far as strip high-rises are concerned, the HOAs are some of the lowest in the valley. My involvement in the community while living there has contributed significantly to making my life easier whenever maintenance concerns do arise. At the end of the day HOAs are always money lost, but they are quite helpful as a write-off to offset a little of the income from my full-time employment.

Also, I was thinking more along this lines of trying to obtain 5-10 properties, using that capital as a backup security/exit strategy while leveraging OPM, or using the capital to fund the new investments; probably a mixture of the two. Trying to contemplate my niche.

Phillip: Another great point from a time management perspective! Fortunately we have an incredible community manager, so my time is rarely required. :)

Thank you! I'll have to pick up that book! I appreciate the input and the quote!

Hey Everyone!

Thank you for your time, and I'm grateful to be a new addition to this community. I've been interested in real estate for some time, but shied away from aggressive investing because of what happened to so many during the collapse, my own father included. I've now come to realize that risk is unavoidable but can be calculated, and I don't have to follow the same path as others.

I'd like to ask for some advice. Here's my situation: I'm in the learning and preparing stage. I was able to take advantage of the "down market" in a small way. I purchased a high-rise condo (loft) in Las Vegas in 2011, which happens to be in their most-progressive downtown district, and is on the Strip. In 2006 the property sold for $700,000, I bought it for $170,000 and it is now worth about $370,000. In my shy approach I was following the "David Ramsey" vibe and paid it down to $80,000. I realize now I should have used that money better to purchase more property, but hindsight is 20/20. It is ridiculously easy to manage (as I am the President of the HOA board of directors for the building). It has a great, positive cash-flow of about $400-$700/month depending on rent. I cannot refinance and access the equity though because there are too many renters in the building.

Should I sell? Should I consider a HELOC? Should I leave it be and focus elsewhere? I can't help but imagine what buying power $200-$300K would give me to multiply my portfolio. If I sell within the next 14 months, I will have a capital gains tax exemption.

Thank you all in advance for your input!

Hey Tim! I live in Turlock too! Indeed Turlock prices seem cost-prohibitive, but it is a university-based town to begin with. I wouldn't be surprised if Merced is a bit more expensive ten years from now, considering the new UC campus. I'm in a similar boat, I have a property in Vegas that built a fair amount of equity and am considering whether to utilize that equity or just keep saving.

A friend told me you can still find some good deals of 2/4-plex units in the Modesto and Merced areas. I think I have a lot more learning to do before I'm ready to pull the trigger.