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Updated over 10 years ago on . Most recent reply

User Stats

64
Posts
11
Votes
Daniel Siapin
  • Investor
  • Brea, CA
11
Votes |
64
Posts

What's my next adventure? Buy some 4plexes?

Daniel Siapin
  • Investor
  • Brea, CA
Posted

Hi All, I'm new to BP.  I've lived in SoCal my entire life, and don't plan on changing it.  My wife and I are aggressive investors by nature, and we want to take it to the next level.  We have some nice assets that I want to leverage OR sell, then upsize our investments, then turn them into my full-time job (and our new home).

This is what we have:

1) We own a SFR outright (sell around $430k OR borrow $300k against it)

2) Our primary residence (make $160k if we sell OR borrow $60k against it)

3) Own a small tree service business

4) Residential development site (that $ is tied up for a couple years)

After getting mortgage pre-approvals, running scenarios and numbers, I realize I have around $400,000 to play with.  I want to make that my full-time job.  I figured 3 possibilities:

First Thought: sell both SFR's and aim at purchasing 2-3 4plexes in our area in need for some beautification (preferrably north orange county (Brea, La Habra, Fullerton, Placentia, Yorba Linda, etc)).

Second Thought: borrow against both properties, and find 2 mirroring triplexes (or 4plexes) in need of some help. I figured this would be a 6-plex and I can avoid a commercial loan (higher interest). In addition, I'll have both SFR's to rent out, and cash-flow nicely. I do realize that this plan may require me to sell SFR's, but if I can hold on to them, I'd be better off in the long run.

Third Thought: ask BP!!!!!!

If all goes well, my plan is to gift my tree business to my brother, then just pay attention to my REI.

Most Popular Reply

User Stats

150
Posts
65
Votes
Bill Larsen
  • Investor, Real Estate Agent
  • San Juan Capistrano, CA
65
Votes |
150
Posts
Bill Larsen
  • Investor, Real Estate Agent
  • San Juan Capistrano, CA
Replied

@Clint Kreider  is a multifamily wizard... 

But if it was me, i'd sell the rental (or refi it out), pay off principle residence, and then buy awesome rentals for the rest of my life

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