All Forum Posts by: Michael Rodrigues

Hello I own a rental property in Orem (Vineyard). I've watched the home value increase the last few years. I'm finally raisin my rent to $1400 from $1300. I've noticed another identical property in my neighborhood renting at $1475, so I'm still competitive. I'm trying to keep my tenants while taking advantage of the fair market value.

I'm trying to figure out what would be more beneficial.  

We are currently living in a townhouse that has about $30k in equity and should be easy to rent out.    Here is what we are trying to decide between:

1.  Purchase another property as a long-term hold (rent it out) such as a $90,000 apartment currently worth about $110,000.  Rent it out and hold long term, and stay in our townhouse.

or 

2.  Purchase our next home, move into it and then rent out our current townhouse for $100-200 cash flow a month and hold long term.  

Ideally we'd like to eventually build a bigger real estate portfolio with about 15 properties, all long-term holds for retirement income.  

Either way, it appears we'd have a few hundred dollar cash flow each month, maybe around $1200 a year give or take.  Doesn't seem like much but I know it's how you start out.  

I have about $30k saved for a down payment.  Which would not be enough for 20% down on our next home, but would be more than enough for 20% down on the $90,000 apartment.   

Thank you in advance for your input!  

Here's my situation: 

I'm 32, I own my own home, which is a 3 bedroom townhouse that I purchased so that I could eventually rent it out or sell for a profit.  So far I've got about 30k equity in the house. 

I'm looking to start investing in real estate.  I'm thinking about purchasing a multi-unit or duplex that I can rent out for cash flow.  Would you consider this a wise first-time investment (other than my primary residence?)  I would probably stay in my current home and purchase this multifamily solely as an investment.  

I'm looking to get into real estate investing. I purchased my first investment/home a few years ago and intend on renting it out eventually. I have a decent cash flow and am looking to invest around $10,000 in real estate, but am not sure where to go from here. Is there anyone on here from Utah that would be willing to mentor or partner with me?