I used to own a primary residence in San Ramon.

My main question is if it would be smarter to use the money I have saved up to purchase a primary residence here in Los Angeles so I am no longer throwing money away on rent, or if I should use that money to invest in a rental property some place like Atlanta, where I'm familiar with the market and is definitely more affordable.

How soon after purchasing your primary home can you apply for a home equity loan or line for investment?

I cash-out $20k from my primary to build $200k in business credit which makes me 10%+ cash flow returns on purchased rentals.

I only know of the primary residence that can be paid in installments.

Going forward my primary startegy is buy-and-hold but I am open to fix-and-flip.I am excited to be a part of this community!

Refinancing an investment property is a little different than refinancing a primary residence, so it’s important that investment property owners understand what they’re up against.

A con is that it will limit potential buyers to only those that will use it as a primary residence.  

Address 999 Barry Rd - VTAcquisition date October 2015Estimated value 300,000 (300k)Mtg balance 240kMtg payment (1675 monthlyProperty taxes monthly (included)HO insurance premium 840 annually (included in mortgage)HOA fees if applicable (n/a)Monthly rent Primary residence but rent 1 room out for 1000 per month with utilities)Address 3014 Mallard DR - ColoradoAcquisition date May of 2013Estimated value 220kMtg balance 175kMtg payment 1150 (month)Property taxes monthly (included)HO insurance premium 2057 (annual)HOA fees if applicable (naMonthly rent 2200 Gross (550 Per Unit)Address 138 Hoffman Dr - PAAcquisition date Jan 2008Estimated value 80kMtg balance 61500Mtg payment 440 (Month)Property taxes monthly (included)HO insurance premium 376 (annual)HOA fees if applicable (n/a)Monthly rent 600Address 918 vickroy Ave - PA 15904Acquisition date October 2015Estimated value 20k ($20,000)Mtg balance (n/a)Mtg payment (n/a)Property taxes monthly (unsure)HO insurance premium $924.15 annualHOA fees if applicable (n/a)Monthly rent (duplex 1 unit 400 per month) (Other unit vacant but rented for 300 per month)

It should not be relied upon as your primary source of income for your family, it can be a great secondary source for additional money.Clean up your credit, you will need it to be successful!