All Forum Posts by: Horacio Gonzalez

@Account ClosedThat's exactly what I was thinking as the other option is having more funds to obtain other properties faster. Especially since our current home is very cheap to live in and we both have decent incomes. You were pretty close on the value. We purchased the home for 75K and is worth a little bit more now but compared to other rentals in my neighborhood it would cash flow about $200-300. If we stayed here so we can get other rental properties I was more interested in finding a multifamily unit maybe a fourplex. I have seen some that are reasonably priced in good ares. However what you are doing is something else I looked into but how has your experience been in those types of neighborhoods? I would be very interested in chatting with you to see how it has been going for you in Wichita. Thanks 

Good Evening everyone, 

First of all I hope everyone had a nice holiday break! 

My question is simple but just wanted to get some different opinions. So our home which we purchased about 2 years ago and have been living in and slowly updating and fixing up to eventually move out and rent it. It has a full basement which was put into the house about 10 years ago so it is relatively new and in very good shape. However it was not fully finished only one small room was sheet rocked and insulated as well as a half bath that was put in. The rest of the basement is just concrete walls and finished concrete floors. So my question is do we spend the money to finish the basement even though it wouldn't count as an extra living space since it does not have the window escapes. Or do we just use leave it as is and let the renters use it as storage and use the money for our next home as a deposit or a emergency fund for that rental. From talking to a friend who is a contractor finishing the basement would be about $5-7k to finish, it already has electricity outlets throughout. Thank you so much in advance! 

Welcome Brian ,

I have been living in Wichita close to 20 years and I think it’s a great place to start investing. I also recently graduated and bought my first home and am now looking to start buying real estate here. Like @Jeremy Taggart said it would be very easy to find something to house hack here.