All Forum Posts by: Shaun S.

@Justin R.

Thanks for taking the time to write with your insight. I will most likely follow that advice and get something for the kids to grow in and take out equity from the duplex and buy another investment property!

Cheers brother!

Shaun

@Justin R.

I see what youre saying, so maybe my best option is to refi the equity to match current increasing rents, pull out another 200k-250k from the duplex and use that for another 2-4 unit investment -OR- use my 250k that I have now and add 250k from refi and buy a larger say.. 2mil 2-4 unit complex?

Thanks Justin!

Shaun

@Justin R.

Thanks for taking the time to reply! With regards to duplex, its the $700/mo in free cash flow. Bought it for $450k with 250k down (10/31 xchange) and its now $650k, but I bought at a decent time (2015/2016).

Live first, invest second... I like that!

Being in san diego (as you know), its hard to find an investment where the cap rates are 9% or higher, but selling duplex and buying another one after I have the rents going up each year since inception is going to be difficult to get a better opportunity to increase the free cash flow.

Thanks my friend!

Shaun

@Nick Foster

Thank you for your reply Nick! Family does come first and that is why this decision is very difficult right now. I have no idea on the market right now and that is why putting most of my eggs in option 1 is a hard pill to swallow even if it does mean doing whats ultimately best for my family!

Thanks man!

Shaun

@Jonathan Bombaci

You make a great point, although I would like to be near beach w kids and a 3 bedroom, I would be at the mercy of the current market w option 1.

Thanks Jonathan!

Shaun

@Theresa Harris

This is true Theresa - I would basically be banking on the price going up which is a "what if" type situation.

Thank you!

Shaun

@Marquez Griffin

Hey Marquez,

Thanks for reply, in actuality I bought the condo that I currently live with my veterans VA loan and didnt put a lot down 15k so the market rent is roughly $600 lower than mortgage and it would take about $200k just to make it where mortgage would be the same as rent. I had thought this would work as well, but the numbers dont add up.

Thanks for feedback man!

Shaun

@Greg Scott

Thanks Greg,

I enjoy owning in California and being a property manager/landlord in my backyard so to speak. I have owned in Hawaii and Las Vegas and I relied too much on others to maintain and keep my properties in top shape.

Much appreciated feedback!

Shaun

I am currently in the military for 17 years, have 2 elementary school aged kids and I have been dabbling in RE investing for over 15 years and still have a lot to learn, but have a 'this or that' question for you guys.  Today is my first day on BP and here is my situation:

-Have 250K in bank ready to invest from previous real estate transactions (house hacking mostly)

-I own a duplex in San Diego w mortgage and insurance: $2,850 and dual rental incomes are: $3550 with cash flow of: $700.  Equity: $300K

-I currently live in a 2/1 condo a block from the beach with $40K in equity worth $505K

-I plan to sell my condo (mortgage: $2,600 + $350 HOA = $2,950) I currently live in to cash in on $40K and release my VA loan (military) so ...…………….

SHOULD I

1 - Use my 250K for a down payment to buy a state of the art /new home 3/3/2 larger property; kitchen island, smart house, 2 car garage and extremely large rooftop deck, a block from the beach with a HOT HOT market for a house for $875K that will significantly increase in cost as they are building new restaurants and breweries in the area making it extremely desirable and pay 4K monthly (already pre-approved)

or

2 - Buy a 2-4 unit plex somewhere inland that is not as nice as the market in San Diego is high for 2-4 units and live in one unit and rent the others.

Please advise as I want to have the most cash flow, but also want to have a bigger place for my 2 kids that is near the beach that is atleast 3 bedroom.

Is there anything else I should be looking at for now?

Thanks so much guys,

Shaun