I have a condo in san diego just finish the mortgage, which worth around $200,000. I am looking for next step in real estate investing.
What is a good way? Currently I am renting out the condo and get around 4% annual return, but the tax is heavy, and the money is not leveraging.
I am thinking to sell it and get around $200,000 and then split into two $100,000 and then buy two condos, with around $250k each.
Another thoughts is to buy a more expensive townhome around $500,000.
Any suggestions or comments? Thanks.
If you are from Cali I don't know how expensive the multi-families are there but, Vegas is close by and there are some multi-family(fourplex) you might want to look into here. You can get one anywhere between 180-250k easily with a NOI close to $25k. I am a Realtor here and I'm always looking for deals like this for investors in Cali!
@Juan Rubio , I might be interested in getting one of those fourplexes. I've got about $40k to work with and would need a loan to complete the purchase if you know of a good lender I could work with.
I got a guy from W.J Bradley he is great! E-mail me your contact information and I'll tell him to get in touch with you, my Buisness email is [email protected]
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