All Forum Posts by: Miguel P. Pena

Thank you @David Fernandez, @Ryan Howell, and @Reece Iovine. I live close to DC and some of these multifamily properties are between 750k - 1 million +. I'm reading BP Rental Properties and trying to learn as much as I can. Thank you for the advice. Really appreciate that there are people like you guys on these forums giving out great advice! :)

Good morning David,

Seeing as your from the DMV area, how much capital would you put down on a $400,000 home. I live in Silver Spring and homes prices are similar to Alexandria and Arlington, respectively. I only have 150k and would like to spend it conservatively without blowing it all away. Due to the pandemic, what's your take on the housing market? And do you believe it's a good time to invest in the housing market? 

Thank you for your response.

I'm wondering what options do I have to invest 150k in. I live outside the DC area and have never owned a home. The housing market is about $500 for homes and $250 for condos. How do I create a real estate portfolio? Is it better to finance a home or a condo? Would a one unit apartment or condo be worth 40% down payment to finance and rent it out. Or would it be better to buy a home and rent out a room or basement in order to finance the property? New to Bigger Pockets and looking for suggesions

My situation: I currently live in Bolivia. My mother and I are planning to sell a property. One seller has offered $170,000. According to architects in the area, the value of the property could be worth $240,000 max. Currently, the Bolivian economy is unstable and I'm not sure what will happen in the upcoming months. Many questions have come to mind. I would like to start building wealth and see my mother financially stable in her 60's. A 4-unit apartment would be ideal although they well over $750,000 where I live and Baltimore is not an option. Not sure if waiting would be the right decision or to take whatever offer comes along? Taking into consideration the pandemic, should I sell it and invest in a property back home in the States? Being that I am from the DC metropolitan area, I have seen many neighborhoods in and around DC significantly change over the past 20 years. Should I buy a home and rent out the basement? A 1 unit apartment and rent it out (all paid for or most of it paid for and the rest financed)? Keep it in the bank and save up more? Pay off debt and reserve 6 -12 months of rent as an emergency fund?

My situation: I currently live in Bolivia. My mother and I are planning to sell a property. One seller has offered $170,000. According to architects in the area, the value of the property could be worth $240,000 max. Currently, the Bolivian economy is unstable and I'm not sure what will happen in the upcoming months. Many questions have come to mind. I would like to start building wealth and see my mother financially stable in her 60's. A 4-unit apartment would be ideal although they well over $750,000 where I live and Baltimore is not an option. Not sure if waiting would be the right decision or to take whatever offer comes along? Taking into consideration the pandemic, should I sell it and invest in a property back home in the States? Being that I am from the DC metropolitan area, I have seen many neighborhoods in and around DC significantly change over the past 20 years. Should I buy a home and rent out the basement? A 1 unit apartment and rent it out (all paid for or most of it paid for and the rest financed)? Keep it in the bank and save up more? Pay off debt and reserve 6 -12 months of rent as an emergency fund?

My situation: I currently live in Bolivia. My mother and I are planning to sell a property. One seller has offered $170,000. According to architects in the area, the value of the property could be worth $240,000 max. Currently, the Bolivian economy is unstable and I'm not sure what will happen in the upcoming months. Many questions have come to mind. I would like to start building wealth and see my mother financially stable in her 60's. A 4-unit apartment would be ideal although they well over $750,000 where I live and Baltimore is not an option. Not sure if waiting would be the right decision or to take whatever offer comes along? Taking into consideration the pandemic, should I sell it and invest in a property back home in the States? Being that I am from the DC metropolitan area, I have seen many neighborhoods in and around DC significantly change over the past 20 years. Should I buy a home and rent out the basement? A 1 unit apartment and rent it out (all paid for or most of it paid for and the rest financed)? Keep it in the bank and save up more? Pay off debt and reserve 6 -12 months of rent as an emergency fund?