All Forum Posts by: Dylan Vargas

@Account Closed Welcome! Agree for the most part on replace full tear off. My only question would be when were the last set of shingles put on? Many times you can look up the permits online and see when the re roof was done. If its only been a handful of years I would wait. If its been 20 years then tear off and have a new roof. Good luck and keep us posted.

@Gervon Thompson Welcome!I agree with @EMarie Windham and don't get a second job just yet. Here is a thought. Can you commute from a cheaper location via train? Outside the city it appears much cheaper. Live on rice and beans and pay the debt down in a few years. Will suck living this way but is done by many people. Get rid of all payments except rent and student loan. Also, outside the city you can actually house hack and live free. This gives you more money to spend on debt. Now, if you are freaking out about living out of the city and refuse to commute via public transportation consider a 4 plex in a cheaper, small town. This profit monthly will make your student debt payment but will take forever to pay off. I would think with 95k income you can get a ton done in a short time. Live cheap and I mean cheap. No new clothes, lattes, shoes, going out etc. Not that you dont sacrifice and do these things already but I am amazed at how I see people "Not spend" while talking on an iPhone, drinking a Starbucks and driving a new car. Good luck and keep us posted.

@Laura Gomez Hello Laura! Well, that is interesting. Rates are very low right now so securing a good rate isn't a bad thing. A HELOC will be there when you are ready to pull the trigger when you move. A home equity loan will require payments until you move. Do you have a property in mind in California? Can you purchase California home now while rates are low? Will be an owner occupied in California just have to work out when you are heading to California. Then again it never hurts to pull the money out and have it ready. You will be ok whichever road you take. i would just narrow down when I am moving. Things can change real fast in life.

@Laura Gomez Welcome! Go to the Bigger Pockets calculator and run the rental one. Its free for a couple times I think. I like the idea of renting the townhome and you can self manage which saves $100 a month give or take. If you find a deal or good place in California nothing wrong with pulling out equity for a down payment for California home. The renter will be paying back the loan. Not sure I would do this if only staying in California for a short time. If staying for a short time and returning to Vegas I would rent in California and invest closer to home. Make sense? Good luck and keep us posted.

@Justin Furtado Welcome! If you want to keep your home then keep it. Buy an investment home with your savings or equity for the downpayment. The longer you stay in your current primary the more equity you get back and you stated you want to keep your home. In just a few years you get another 25 % reduction in equity share. You are at %75 equity share now. So, if it were me and I wanted to keep the home and live in HB I would buy the investment properties with cash for down payment or with equity. Another 13 years and you only give up 10% equity. Good luck and keep us posted.

@Karen Casey Welcome! Its never a bad idea to take some money off the table. Depends on your goals and such. Selma is a little hike from Pollock Pines I must say. Will the 60k be paid off soon or way down the road? If its cash flow you are looking for and this house works then keep it. Going out of state is a whole different animal but if you do your research as many others do you can be successful. Good luck and keep us posted.

@Andrew Mok Welcome! One of the snags I see with your plan is taking forever to get enough equity to extract for a down payment on a home in California. I personally would suck it up and pay the PMI. You may get %20 equity faster in California based on appreciation then refi out of the loan. Make sense? I do not have stats but I feel the market changing a little in some areas. My area its still booming so who knows. The other option is rent if its cheaper ( I doubt that with current rates) and invest in homes in GA then purchase a home in California in say 5 to 10 years. Just depends on your goals and how savvy you are at finding deals in GA from afar. I would by if you were planning on staying in California long term. The rates are amazing and if crap hits the fan the rates will shoot up and so much for cheap payments anymore. Good luck and keep us posted.

@Kumar Gaurav Cash flow is a tough one. Are you wanting to commute every day to the Bay Area from Sac area or would your job be in the Sac area? Sacramento has a ton of great suburbs. Roseville, Rocklin, Auburn on 80 side and Folsom, El Dorado Hills, Cameron Park on the 50 side. Elk Grove is on the West and South of Sacramento. Dixon is closer to the Bay and a great community. Davis as well but very high priced. Are you thinking about a duplex or tri plex type situation? Deals can be found but Bay Area is tough for cash flow. With rates very low payments are not that bad in my opinion. Research @Wes Blackwell and you will find a ton of information on the Sacramento market.

@Kumar Gaurav Welcome! You can sell the home back East, use the leftover money for a down payment in Sacramento area. Plenty of good homes and neighborhoods at a fraction of the Bay Area costs. Even the East Bay and beyond are much cheaper such as Vallejo. Move family and all is well. I would only do this if I were to live in California for say 4-5 years and not 1 year. Make sense?

@William B. Welcome! The key is finding flips with enough margin to hire out. I think this would be very possible in your area. There will be a little risk but thats part of the game. Eliminate as much debt as you can so you only need living expenses to get you through flips until you build up cash reserves. The major benefit for you is knowing how long and labor intensive these remodel projects are so you will not be overpaying for skilled labor. Maybe even pick the simple things that can save a few grand on each flip. We choose to paint on the simple paint jobs saving a few thousand each time. Wish I knew more remodel fixes. Good luck and keep us posted.