All Forum Posts by: Anthony Holloway

Hi Everyone!

I’m looking to invest in my first rental property this year. I wanted to know what places are the best to invest, to buy a 2 unit property not exceeding $400,000. Any specific states, counties and cities recommendations will be a lot of help!

@Fernan Nava Hi, after seeing your post I looked up a video Brandon Turner did about the bp calculator and I think I’m going to become a pro member, the calculator is a great tool! Thank you!

@Chris John thank you for the book suggestion! Looking to read more about investing and I thought to first read about how to analyze deals and then move onto other books about different areas of becoming a real estate investor. Thank you again!

I’m looking for a book of how to analyze and run the numbers for rental properties. I need a book that will explain everything and teach me strategies as well! Any suggestions?

@Clarence Johnson thank you for giving your thoughts on my post! I'll talk to my lender about the options to do a duplex, I thought if I wanted to do a duplex my salary would need to be a lot higher. I was looking for single family homes with a garage space to convert into an ADU but I could not find a house in the areas I was looking in. I did find new community homes that are being built but they have an HOA. I wasn't sure if buying a house in one of those new communities is worth to try to make it into a rental or turn the garage space into an ADU. Any thoughts on that?

@Shawn Spato thank you for responding and sharing some valuable information. You refinanced your rental to take out equity to put as your down payment on your single family and then sold your condo?

@Steve Morris thank you for giving your opinion of my post! I have to reach out to some condos and see what they allow and I have to talk to my mortgage broker to make sure he is aware of what my plan is to make sure my loan can accommodate that, when I’m ready to buy.

@Pedro Jean thank you for responding to my post and giving me some good insight! I’m trying to go the condo the route as my first buy in order to stay in these areas and with the budget I have. I need to start making calls and have a on going list of condos that would allow me to have renters live there.

@Jon Schwartz thank you for the advice and valuable information! I have to figure out how to run the numbers to do a condo and see if it works and if it will help me buy a single family house after 2-4 years of living in it.

Hi,

I’m currently renting in Los Angeles and I hate having to pay rent because I feel like I’m throwing money out the window. But with the salary that I make and the area I want to live in, I can only afford to buy a 1-2 bedroom condo. I’m looking to stay in the Valley; Burbank, Glendale or Pasadena area. My thought process is to buy a 1-2 bedroom condo in one of these areas and live in it till I’m able to refinance on it and put the refinance amount and anything else I have to add to buy a single family house. I would keep the 1-2 bedroom condo and convert it to a rental property. I will then use this strategy again on the single family house and continue to grow my portfolio. What are your thoughts on this?