All Forum Posts by: Tina Tsysh

How much equity do you have in each investment? The obvious would be is to get a refinance loan and use that money for your next investment. However, you do have to have at least 20% of equity in the home to be able to do that. 

If you want to work with an agent, find an agent in an area where you want to invest so they can start sending you deals. Analyze a minimum of X amount of deals per week and when you see a deal where numbers pencil out - send an offer! Start talking to lenders about possible financing. 

The process seems much less scary and more straight forward once you break everything down into little steps! 

I agree with @Andrew Bang and recommend refinancing instead. Don't forget that you would have to pay capital gain taxes since you haven't lived in the property for 2 years. You also have to look at your opportunity costs - can you find another deal that will generate you a better return than what you are getting now? 

Prices in Orange County are extremely high and it's hard to make the number work. You might have more luck with looking at off-market deals - driving for dollars, or look into another area of SoCal where home prices are cheaper. Inland Empire has definitely cheaper priced homes but there is a trade off for a longer commute. 

Don't lose track of too many phone numbers. If you don't want to pay for an actual line through AT&T or another provider, use google voice. It's free and it acts like a phone number. You can download the app on your phone and it will act like an actual number. 

Typically that's a job of a property manager. Unless you have friends or know someone who lives where your property is, you want to have a property manager in a case of emergencies 

Looking into Inland Empire in SoCal (Riverside County). Since LA and Orange County are getting very pricey in terms of rents and home prices, many people that can't afford to live there are moving up to the IE. They are trading a longer commute for lower housing costs. IE is projected to have the second highest rent growth over the next 5 years according to CBRE. 

Even though Arizona voted blue this past election, it has landlord-friendly laws. I am not sure how soon those will change but Phoenix is projected to be the number 1 market with the highest rent growth over the next 5 years by CBRE. It's not too far from California and many Californians are fleeing there. You can find something in the 200k range.

@Nicholas Schulin I don't think banks would have an issue with that but talk to a lender to get more details

Yes you can! Since there is no loan, you would be taking an equity loan against the house - basically borrowing against your equity. You can get an equity credit line or an equity loan. You can borrow up to 80% of your home value but double check that. 

From my understanding it is the person who will be holding title and is on the mortgage that needs to live there. Are your parents going to be on the mortgage itself or are they just helping you with the down payment?