All Forum Posts by: Roman Cervantes Jr

@Keith Torsen sorry for the late reply, been running all over the place last two weeks. Yes LA is very very expensive, that's why I keep thinking about getting into the market in AZ with my parents. After speaking with a lender, I learned that I'm limited to a duplex if I only have enough for a 3.5% down payment, I will be practicing on the BP calculators before I make my first purchase. 

@Manolo D. thanks for the tips Manolo. Currently working with a realtor and thinking about getting into a SFH that I can fix up while living in it. I'm leaning towards a slow flip, live in it and fix it if the deal makes sense. I'm paying so much in rent and prefer to have my money going towards a property.

@Ricardo Cristobal Thanks Man. I wish it was feasible, but my wife's and my job are here. I don't think we want a crazy commute. You're right though, the prices are so high that most properties that I'm looking at wouldn't cash flow once I move out. That's the main reason why I keep debating if I should keep renting here and invest in Arizona. Out there you can find a fourplex for 250k, not in amazing shape but decent.

Who am I:

Hello, Everyone! My name is Roman Cervantes. I grew up in Arizona and attended Arizona State University where I received a Masters Degree in Architecture. Upon graduation in 2015, my wife and I packed up our belonging and made our way West searching for that ocean breeze and ended up in Los Angeles.

Experience:

I made a great friend that recently introduced me to bigger pockets, and I've been hooked since. I guess part of the reason why I decided to pursue architecture is that my father worked in construction for many years and this line of work was something I felt familiar with. Growing up, I helped my parents with their house flipping and rentals, so I've witnessed what REI can do, I just hate that it took so long for the light bulb to go off.

Current State:

I am looking forward to gaining as much understanding as books can give me, but mostly eager to acquire our first property and learn while doing. My wife and I just started talking to lenders and realtors as well as driving all over the neighborhoods to understand the areas and market. Our plan is to find a duplex at a decent price so we can House Hack,  preferably a property with the potential to add value and resell in the future. If we cannot find something that makes sense, we are open to other options, possibly flipping a house or apartment.

The Goal:

My short term goal is to find a duplex in Los Angeles to House Hack. Long term goal is to acquire multifamily properties in Phoenix Arizona and hold as rental properties. I plan on having 5 units by year one. There is so much to learn and I'm not sure how it's all going to happen, but I know I will achieve it and I look forward to learning from all of you. 

If anyone is looking for an extra hand and you're in the Los Angeles area, I would be more than happy to help. Finally, I would love to hear your thoughts on Los Angeles vs Phoenix Arizona. House Hacking would potentially cut my rent payment in half, netting me about 1200 a month vs finding a triplex or fourplex in Arizona that would cash flow 600-800.

Thanks for reading!