All Forum Posts by: Ruben Esparza

@Jonathan Greene

Wow thanks awesome points.

I have never actually sat down and ran the numbers to compare longterm expected appreciation growth in a HCOL area to the potential yearly accrued savings from buying multiple cheaper properties out of state with all the added costs,stress, and time cost more than anything. You are right on about the over-focus on buying as many doors and cash flow. At 34, I am maxing out my 401K and mostly interested in long term wealth building and diversifying.

I am fairly risk averse so am also looking at turnkey investment companies to put 15-20K in a safe, if less profitable long term side investment.

Really appreciate your experience!

@Soh Tanaka

Thank you for insight! Sounds like great advice, especially considering I am a medical provider and Wife is a nurse.

We can likely maximize our income in a different city/state and invest wherever that makes the most sense. Thanks!

@Michael Reisman

Thanks. I like Colombus. Seems to be one of hottest investor markets right now.

I am looking into turnkey investment companies as well that offer passive investments in Colombus.

I realize that would kill a lot of my potential profits, but as a new investor, I am wondering if putting in 15-20K for a safer passive investment as I learn may be a good option.

@Mark Albini

Hi Mark,

Thanks for the the insight. Deep down I realize that investing in Midwest is way to go financially. I am juggling the Family/emotional aspects and deciding if compromising for longterm equity building and smaller gains in CA is worth it.

One of my best friends just relocated to Cleveland so I am also looking at Ohio. If I get the nerve to invest in Midwest I will reach out to you and consider Indiana. 
Thanks!

Thanks for your experienced advice! Makes sense as I have no connections or team in place out of state.

I have Family that lives in Bakersfield and often see good values come on market in Bako. Would you recommend SFH vs multi-family for Kern County? I only have seen run down quadplexes and apartments in bad neighborhoods listed in Bakersfield from a few searches.

I am trying to brainstorm better ways to invest 120K, instead of 20% down payment for a primary residence in CA.

I am considering buying a SFH or duplex in regions I would like to relocate to in future (Nashville, Orlando, Charleston).

I live 90 minutes from Bakersfield which is a rare affordable market in Southern CA. 

I am open to all ideas and figure many will involve Mid-West. I am living rent/mortgage free in Townhouse I co-own with Parents.

Thanks for input!

Live in HCOL CA. Trying to find a better plan than pouring most of my savings (170K) into down payment for a 650K House I am currently pre-approved for while living with parents.

What would be the biggest obstacles or risk to buying 1 or 2 rental houses (or a duplex) that cash flows in a lower cost of living region? Would likely need to pay for property manager. I see the obvious risk of becoming first time landlord during instable economic times with high unemployment. Also, the markets I like are relatively less expensive than mine, but not the best cash flow like Mid-West. Mainly, because I would like to invest somewhere I already like and relocate to in future (Nashville, Orlando, Charleston). I can find a nice house in these places for 300K but probably not the wisest investment and would still eat up a good chunk of my savings for 20%+ down payment.

I am newbie and barely contacting lenders and figuring out if I would be qualify for a second home (On Title for my Parent Townhouse) vs. investment property.

Just trying to make the smartest move for long term wealth building.