SFR First purchase with no clue!
I was recently approved for a loan for a SFR however I haven't seen anything in California that I can Honestly afford. I would like my first purchase to be the ground floor for many things in the future. I've been looking into house hacking and I have a few questions/ concerns. Any input would help Thank you in advance
Hi @Candyce Jackson would you be willing to share those questions and concerns?
yes!
So I can't afford anything in California that's not a manufactured home under my loan and if I cannot purchase the land with it then its a no go? What are so creative ways to use my SFR loan and still hit my budget mark?
Hi @Candyce Jackson, I think house hacking is a great option - save on rent, build home equity, and learn how to manage tenants. You will develop invaluable management skills that you can use later in your investing journey.
If you'd like to run some of the properties you're looking at, and whether they make sense financially, feel free to reach out!
-
Real Estate Agent California (#02165992)
- 909-569-7757
- [email protected]
Quote from @Candyce Jackson:
I was recently approved for a loan for a SFR however I haven't seen anything in California that I can Honestly afford. I would like my first purchase to be the ground floor for many things in the future. I've been looking into house hacking and I have a few questions/ concerns. Any input would help Thank you in advance
Hi Candace,
Would love to help answer any questions or concerns you have about buying your first home. We work with many first time home buyers and first time investors. Sometimes our clients get creative by adding family members on to the loan to help them get approved for more. Had one client go from $700k to over a million by adding their mother who was going to move in anyways.
-
Real Estate Agent California (#02166235)
- The David Greene Team
- 310-720-1057
- [email protected]
Candyce,
I am from the bay area of California and I have been there in the same boat. After searching for 6 months, I had to start exploring out-of-state inventing to boost my networth.
Once I start having some success there, now I don't look at California and get disappointed, now I just enjoy exploring creative strategies and making my network in different states, and talking with amazing people making money in unique ways.
Message meand I can guide you better.
We sometimes have to accept the fact that we can't afford everything we want. I want to own a 233-acre ranch in Jackson Hole, but it costs $35,000,000 and I can't come close to qualifying for that amount, so I have to set my sights on something more realistic.
Dave Meyer has data on the best states to invest in. I think most Californians are investing in other states where prices are more affordable.
@Candyce Jackson happy to talk more specifics on a call if you would like some 1v1 advice!
Quote from @Candyce Jackson:
I was recently approved for a loan for a SFR however I haven't seen anything in California that I can Honestly afford. I would like my first purchase to be the ground floor for many things in the future. I've been looking into house hacking and I have a few questions/ concerns. Any input would help Thank you in advance
Hey Candyce, my name is Leona; I am a Realtor and CEO of Leona Estates; my team is working for investors; I will be happy to connect; feel free to contact me.
Leona