All Forum Posts by: Dylan Vargas

@Ivy Liu Welcome! How much of a connection to Phoenix do you have besides the boyfriend? Same with the Bay Area I would hold on to your cash. Wait until you are in Phoenix, make sure you like Phoenix long term weather you live there or not. What happens if you break up in a year and move back to the Bay? I would save the money and see what happens until you find a comfortable place to purchase. Good luck and keep us posted.

@Manish Mishra Welcome! I would call an independent agent and get a quote. My rates haven't changed on my units. Good luck and keep us posted.

@Jeff Grampp Welcome! My son did this sort of. He was having trouble finding any good investment homes so he bought new construction, moved in as an owner occupy and now rents his other 2 year old home out. He had purchased his first house new construction. This made sense for him and was nominal out of pocket to obtain a second property. He shouldn't have much if any maintenance for many years. At any rate I know this is different than investment only but wanted to chime in. In some places new construction is cheaper to buy than non new construction. Good luck and keep us posted.

@Christine Snyder Welcome! I would get a roof cert in your area. In California we do a roof certification form a licensed roofer. Very basic but a good thing to have on file and the cost is nominal. If the roof is a major color eye sore that may be another story. If you are in a hot market such as California I wouldn't bother replacing or even consider replacing unless faulty. Check the local permit office and see when the last time the roof was done if possible. Good luck and keep us posted.

@Brooklyn Wright Welcome! Congrats on being ready to purchase your property. I wanted to point out what @Chris Mason mentioned in another post. Try to find a house that has an extra bedroom or level of the house that can be converted to another unit. This will help with the cash flow in a big way. Chris was mentioning something along these lines. Instead of a 3 bedroom maybe find a house with 4 or 5 bedrooms or a lower level walkout with a separate bath. Good luck and keep us posted

@Joseph V. Welcome! If you have verifiable income and tax returns most will be able to help you. Credit Unions, mortgage broker, etc. Good luck and keep us posted.

@Minna Reid @John Minock " Is it being met". Great question. I am in Chico. tons of new apartments as well as homes in the past 2 years yet demand is still through the roof. New apartment buildings for the college students as well yet demand is still there. We were discussing this on a drive around our area in Chico today. Doesn't make sense. We have had the "CampFire" in Paradise which adds another element to this. I do think when things " adjust" it will be because of some government whatever or new scam uncovered.  Matter of time. Good conversation!

@Diane Kim Great idea! This will present some challenges to find that cash flowing property to off set the rent but anything is doable. I do like that you have family in Indianapolis and they can help look after properties and probably have some connections to the people you need. I lean toward a primary residence  that is owner occupied while  renting out rooms to help substantially reduce the  mortgage payment. Renting out rooms will not cost near as much as a rental property with regard to money to help offset mortgage if that makes sense. The down payment will be 0-3% I would think. Then I would venture out for investment properties for cash flow to help off set mortgage. You are on your way to some great thinking in looking at different ways to make this happen. Great to hear!

@Diane Kim Welcome! I would check out homes and run the numbers. If it works give it a whirl. I really like the idea of finding tenants from your residency. What a great fit. Its all about if the numbers work and specific to residency housing in my opinion. Even if the market dips if colleagues need rental housing (or traveling nurses etc) such as in your situation it will work. Most people dont want to rent rooms out but the people that do usually make it work and can afford their "own" home. Good luck and keep us posted.

@Uzma Abdullah Welcome! How much do you like Irvine for living? How bad does hubby want out of W-2? You could always buy a nice home in Dallas and use the left over money to invest and keep going with flipping etc. You could pay cash for a primary residence house in Dallas area which would put your monthly bills substantially lower therefore husband could possibly ditch the W-2 and focus on flipping and investments. Make sure you can afford health care for a family of 5 if you leave W-2. Investing in Irvine long term is probably a great idea. Primary residence would give your family stability and space and build equity. Just throwing a couple of thoughts out there. Is there another option to live near Irvine such as Temecula or? 500k could pay cash for a home out there and again reduce your monthly bills. Good luck and keep us posted.