All Forum Posts by: David J.

Hi I am new

Great to be here. I am actually very familiar with forums and forum software. Actually hats off to the admin here for building something great out of invision power board. This is really neat with regard to customizing the theme etc.  I am excited about invision power 4.2 coming soon. 

anyway, since most are here for investments please note that is why I am here also. I am very excited to meet people and learn what I can from others. 

Great to be here.

Hi I am new here. I came looking for some advice. (hopefully this is the right forum for advice)

I feel like I am in a rut and do not know how through break through. I want to have many properties and have lots of passive cash flow but have stalled. Here is my current portfolio

5 properties (4 in expensive California bay area and 1 in Oklahoma) all managed by me except Oklahoma is managed with company. 

List with descriptions: 

• Property 1: 200K equity and $1400 cash flow monthly.  section 8 renter, refinanced 1 year ago 25 YR loan 
• Property 2: 150K equity and  $750 cash flow monthly. section 8 renter, never refinanced. 30 Yr loan. bought 2014
• Property 3: 92K equity and  NEGATIVE - $1300K cash flow monthly.  My live in home. I rent 3 bedrooms but with $3000K mortgage I still lose $1500 monthly.
• Property 4:  140K equity and  $900 cash flow monthly. Section 8 renter. never refinanced, 30 yr loan bought 2013
• Property 5: 40K equity and $50 cash flow monthly. Oklahoma house managed by property management.  refinanced in 2016 30 yr loan. 

I have great FICO but only about 20K in bank and no real 401K or anything like that.  Job has decent salary of $100K 

Here is where I am stuck. What is my next move? 

I hear about people getting "52 properties" etc. but how? I don't have enough for down on any new property. I live in very expensive area and any deal I find requires lots for down payment. They always want 6 months reserve funds also. Plus with 5 mortgaged properties they want 25% percent down on next investment. I feel like I have stalled out. 

What would you do? Please if you can offer advice. 

Thank you :)