Any advice would be great

[Branden Davis]

Hi my name Branden. Im 25 lm going to be selling my first house soon and need advice on what to do with that income. I currently live in the bay area but Im from phoenix and have family and friends out there. My dad is my realtor so obviously I talk to him a lot aswell, I just want an investors opinion. Its looking like I might have around 50k when everything is done and over with. My thoughts were to look for something cheap in the phoenix area and just pay cash then slowly start building my empire. Anyway suggestions, things to look into, different cities to look at, Im open to everything.
Thanks for everyones thoughts and guidance.
Branden

[Elizabeth Colegrove]

@Branden Davis 

What is you risk tolerance? Are you willing to leverage debt? Do you have a W2 income? Are you going to live in the house ?

We own 5 houses and have put a total of $75k into our class A properties worth over 960k in appreciating rent/market cities (mortgaged considerably less since teh properties were short sales and foreclosure). We were able to make 3 of the houses personal properties and than rent them out when we left. So 2, of the properties were 0 down VA loans and one was a 5% convention.

I totally agree with @J. Martin  Depending on if you income could support the debt, your down payment could buy 1 million dollars worth of debt with 5% down conventional. If the numbers worked you would be having your tenants be paying down a appreciating asset.

We are in this for the long haul. Our goal is not for the cash flow now, but for the cash flow later (15 years) so my husband can retire at age 44 from the Navy. We do not follow the rules on this website (1%, 2% or 50%) but buy higher quality of houses and keep tight control of our costs. We have done very well. I am creating a free ebook about our strategy and philosophy that will be on my website.

Best of Luck