All Forum Posts by: Nayeli Marquez

Hi everyone!

I currently have a full time job and also work as a real estate agent part time. I've been an avid listener of the podcast for the past few months and have learned so many strategies in real estate but are still trying to figure out which is best for me. I know that I want to purchase next year so in preparation I decided to call a mortgage loan officer for more information about what it would take for me to qualify. To my surprise, I found out that I prequalify for an FHA loan of $650,000 and would only have to put 3.5% down. I do live in the north Bay Area where home prices are high so I definitely want to due my due diligence and be strategic because my my mortgage payment is going to be quite high. One thing I know for sure is that I would look for a home that needs updating so that I could renovate and build equity.

I am not expecting to cashflow with this property anytime soon and would be happy to breakeven, if not pay very little out of pocket once I move out. I ultimately want to purchase a duplex so that a portion of my rent is covered and have a better chance of having the mortgage covered by tenants after I leave but those are harder to find and I would be looking at a higher purchase price so I have not ruled out single family homes. There's potential for STR since I live in the wine country, or MTR since there's a level II trauma center in my city.

For those in CA, what strategies are you implementing/type of deals are you looking for and how do you analyze your deals? Where do you look to find these deals?