All Forum Posts by: Elena Fabri

Thank you!

'

Thank you! 

Anyone recommend a good PM in Cleveland Ohio?

Guys, I wanted to thank you for the insights. I have advanced my position and am not under contract for my first duplex out of state. It meets the 1% rule and the cost was low enough that I did not deplete my savings. I am able to leave 6 months in reserves for my primary budget as well as 6 months for the property I purchases. This allows me some breathing room as I move to my next deal. I am thinking a refurb in order to build up some capital. with rates increasing I need to be mindful as less people will be willing/able to buy. Any suggestions what types of markets will always be a buyers market? Not locations, but things to look for in areas you want to flip?

I live in Los Angeles, and Ellena home with a rental on it. I have probably $100,000 cash available (heloc)  for my first investment.  The rental property could cover my house mortgage, however I’m using it to pay down heloc debt. I don’t know which type of property to start with, I don’t want to house Htach, but I would like to purchase a second property for rental. Whether it a condo or a duplex. But I feel afraid to make the first step and I’m not sure how to prioritize my goals. I have a demanding job but can make time for refurbishment‘s I have quite a design flair which is why my rental property does so well. Where should I get started? Right now I’m deep into the Podcasts whenever I have a spare time. But know that There will be opportunity in the  coming months that I should prepare for now. What are the best types of property for my situation and how should I determine? 

My question is, I have a mortgage and an Airbnb on the same property. It cost me $90,000 to build a ADU for the Airbnb. I want to save 100,000 per Scott'T's advice to start investing in rental properties. With $455,000 Mortgage and 90,000 HELOC, how do I prioritize my income to meet the 100? With a variable on HELOC, do I pay that down as quickly as possible, or pay the minimum for both loans and save as much cash as possible from rental and primary income till 100 is hit? Also that HELOQ is cash as well. Just Don't know how to look at the math and I'm concerned that variable rates will increase considerably. Lastly, Who is the person that helps me with these kind of projections as my tax person isn't really equipped. Is it a financial advisor or tax advisor or ....Thanks