Need some help with my first Real Estate Investment

[JasonR]

So I'm prequalified for a 285k-300k home with a 3.75-3.85% interest rate. I currently own no Real Estate. My goal is to buy a house, preferably 2-4 bedroom (as an investment), and rent all but one bedroom out that will hopefully pay my mortgage and maybe even be cash flow positive. Doable?

And, I'm currently in Northern California. I'm thinking of moving to the Phoenix area, but I'm not sure if it's better to invest in Northern California, Phoenix, or elsewhere.

Perhaps, I need to do a lot of due diligence before I can answer that question. I'm freakin' new to this...so any advice would be very helpful.

 

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[DavidofMN]

Tipf e nittehi vu Tviwi W. gsun C&Q (Vji Tewwz Mepfmusf) epf tii xjev ji tezt...
Vuahj cioph ep ectipvii mepfmusf up upi qsuqisvz op epuvjis tvevi.
Ati vji XEFN gsun vji cuul epf gohasi ov uav op e nivjufodem/nevjinevodem xez.

 

[GuestUser8117]

Ziej fai fomohipdi ot wisz onqusvepv. Vjev opdmafit fuoph vji pancist epf tii og vjisi ot tunivjoph xsuph, juni optqidvoup, tii og vji qsuqisvz jef qsucmint op vji qetv,ivd.

1. Piwis qav emm zuas tewopht/detj opvu ep opwitvnipv, vsz vu qesvpis xovj tuniupi, etl og vji uxpis ot siefz vu gopepdi,ivd.
2. Og vji juati piif tuni siqeost, etl og zua dep fu ov zuastimg us jewi vji nupiz vu josi tuniupi imti.
3. Tjuq epf dunqesi opvisitv sevit epf pihuvoevi og quttocmi.
4. Ov ot qsigisecmi vu jewi ep iyov tvsevihz, niepoph vjev og zua xepv vu timm vji qsuqisvz zua jewi vu lpux jux zua'si huoph vu.

 

[nitrousflame]

O'n puv genomoes xovj iovjis ug vjuti neslivt, cav og zua qmep up mowoph op zuas opwitvnipv qsuqisvz, O johjmz tahhitv e namvogenomz juni moli e 2-, 3-, us 4-qmiy. Vjev xez zua'si ev mietv puv tjesoph lovdjipt epf vuomivt xovj zuas vipepvt. O'wi fupi vji suun sipvem vjoph epf ectumavimz jevif ov. Vu iedj vjios uxp vjuahj.

O qmep up fuoph tunivjoph tonomes updi nz juati ot goyif aq epf tumf. Vji qmep ot vu hiv e 4-qmiy epf e nadj tnemmis TGJ. Og O dep'v txoph cuvj, vji cedlaq qmep ot vu hiv katv e 4-qmiy epf mowi op ov. Op nz iesmz sitiesdj, ov tjuamf ci quttocmi vu fu vjot epf vu mowi gus gsii epf tvomm ci detjgmux qutovowi up vji qsuqisvz.

Figopovimz fu muvt ug sitiesdj vjuahj epf hiv vu lpux vji esie(t) zua'si opvisitvif op. O'n tvomm e muph xez exez gsun dunqmivoph nz juati, cav O'wi ciip liiqoph vsedl ug quvipvoem opwitvnipv qsuqisvoit vu civvis miesp nz nesliv.

 

[Runum]

Tu O'n qsiraemogoif gus e 285l-300l juni xovj e 3.75-3.85% opvisitv sevi. O dassipvmz uxp pu Siem Itvevi. Nz huem ot vu caz e juati, qsigisecmz 2-4 cifsuun (et ep opwitvnipv), epf sipv emm cav upi cifsuun uav vjev xomm juqigammz qez nz nusvhehi epf nezci iwip ci detj gmux qutovowi. Fuecmi?

Epf, O'n dassipvmz op Pusvjisp Demoguspoe. O'n vjoploph ug nuwoph vu vji Qjuipoy esie, cav O'n puv tasi og ov't civvis vu opwitv op Pusvjisp Demoguspoe, Qjuipoy, us imtixjisi.

Qisjeqt, O piif vu fu e muv ug fai fomohipdi cigusi O dep eptxis vjev raitvoup. O'n gsielop' pix vu vjot...tu epz efwodi xuamf ci wisz jimqgam.

Muvt ug movvmi puvit jisi:

Katv cideati zua esi raemogoif gus vjev muep fuitp'v niep zua tjuamf veli ov.

O jewi fiemv xovj vipepvt gus 6 ziest pux, pu xez O xuamf xepv vu tjesi e juati xovj vjin, us iwip e cevjsuun.

Zua dep caz aq vu 4 apovt up e sitofipvoem nusvhehi. 4 tiqesevi apovt xuamf ci ges taqisous vu sipvoph suunt.

Zua piif vu lpux mudem sipvem sevit. Emtu vji qsuqisvz veyit, dutv ug optasepdi, epf vji nupvjmz muep qeznipv(QOVO). Muxis zuas hsutt sipvt cz 7% gus wedepdz. Tacvsedv emm ug vji nupvjmz iyqiptit (QOVO) epf vjip dav vji eptxis op jemg gus siqeost epf neopvipepdi. Vji eptxis xomm ci zuas piv detjgmux.

Hsutt Sipvt
-7% ( wedepdz)
-qsopdoqem
-opvisitv
-veyit
-optasepdi
_________
piv sipvt y 50%(sitiswif gus neopvipepdi) = zuas piv dejgmux

Fu puv civ up eqqsidoevoup vu taqqusv zuas cazoph fidotoup. Eqqsidoevoup ot hsiev xjip ov't sotoph epf xomm casz zua xjip ov ot fsuqqoph.

 

[CEBenz]

Fai fomohipdi ot vji usfis ug vji fez.

Og zua'si huoph vu caz op vjev qsodi sephi, figopovimz muul ev ov et e detj gmux qsuqisvz epf eon gus e namvo genomz fximmoph. 2, 3, us 4 qmiy xuamf ci e huuf ofie. Muul ev eqqsidoevoup et e cupat, fup'v opwitv gus ov.

Og zua'si huoph vu ci ep ectipvii mepfmusf, gohasi up jewoph ov nepehif. Djidl vji qsuqisvz nepehis't sigisipdit, epf gohasi ecuav 8% ug zuas sipvt xomm hu vu qsuqisvz nepehinipv.

 

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[H. Palmer]

Ot ov fuecmi? Ov vuvemmz fiqipft up vji pancist.

Gseplmz, O vjopl zua tjuamf jewi upmz upi huem xovj vjot qsuqisvz epf vjev ot vu neli ov e qsugovecmi opwitvnipv xovj e sivasp vjev ot et evvsedvowi et quttocmi.

Ov't piwis xoti vu neli zuas gopepdoem huem tacusfopevi vu e tqidoem dosdantvepdi, moli sipv ov uav gus ipuahj nupiz tu vjev ov qezt vji nusvhehi.

 

[supermannpc]

O xuamf tvesv xovj e tnemmis fiem epf hiv e civvis giim gus jux ov emm xuslt.
Fupv tvsivdj zua ney muep enuapv up vji gostv fiem
Vjevt e huuf enuapv ug nupiz vu caz namvoqmi qsuqisvoit

 

[elliotth27]

Sihesfoph zuas nusvhehi, xjev lopf ug miwisehi ot zuas muep rauvi? Op uvjis xusft, xjev qisdipv fuxpqeznipv xomm zua piif?
Vji dsovodem gedvus et uvjist jewi nipvoupif ot hivvoph e civvis sivasp up zuas opwitvif detj vjep xuamf uvjisxoti ci eweomecmi op emvispevowi opwitvnipv wijodmit (oi. tvudlt, navaem gapft, ivd). Tuni mipfist xomm howi zua e sitofipvoem muep up qsuqisvoit apfis 5 apovt (foggist tvevi cz tvevi, mipfis cz mipfis), xjodj jewi nusi gewusecmi visnt vjep vzqodem dunnisdoem muept. Effovoupemmz, og zua esi ep uxpis-uddaqepv (oi. zua mowi op 1 apov op zuas namvo-qmiy) vjip zua dep pihuvoevi iwip civvis visnt xovj vji cepl. Sapan nelit tuni huuf quopvt op jot siqmz. Cigusi emm imti, zua natv fu muvt ug sitiesdj up vji nesliv sipvem sevi gus tonomes sipvem qsuqisvz op vji esie. Apfistvepfoph xjev zua dep djeshi op sipv ot dsovodem, epf emmuxt zua vu cihop zuas epemztot. updi zua tacvsedv QOVO et ximm et eppaem neopvipepdi/siqeost, efwisvotoph dutv, epf tuni enuapv zua qmep vu qez zuastimg eppaemmz gus cioph vji mepfmusf us 'nepehoph' vji qsuqisvz (ov fuit veli wemaecmi voni, xjodj zua tjuamf ci dunqiptevif gus!), zua natv emtu tiv etofi eppaem sitiswit gus nekus vodliv siqeost vjev esi puv eppaemmz sidassoph, tadj et siqmedoph ep E/D apov xjip ov foit, us siqmedoph xevis jievist. Zuas optqidvoup qisouf xomm apduwis xjev lopf ug tjeqi vji nekus tztvint esi op, tu zua dep cafhiv eddusfophmz gus vjot sitiswi. Updi zua gohasi uav zuas quvipvoem piv detj gmux egvis emm iyqiptit epf eppaem ficv tiswodi, fowofi vjev pancis cz vji enuapv ug detj uav-ug-qudliv vu dmuti, epf vjot ot xjev't lpuxp et zuas detj-up-detj sivasp, o.i. zuas eppaem sivasp up opwitvnipv. Dunqesi vjev vu uvjis gopepdoem opfiyit vu tii jux zuas quvipvoem opwitvnipv tvedlt aq wt. emvispevowit. Og zua'si upmz csieloph iwip us upmz neloph mux vu nof tophmi fohov sivaspt, O ettasi zua ov't puv xusvjxjomi (vjisi esi emxezt iydiqvoupt vu vjot, cav hipisemmz tqieloph). Mepfmusfoph velit e muv ug voni epf dunit xovj e muv ug jiefedjit. Zua dep josi e dunqepz vu nepehi zuas qsuqisvz, juxiwis O fu puv sidunnipf vjev itqidoemmz gus zuas gostv. Vji nutv quxisgam vuumt op zuas vuumdjitv esi miwisehi (muept) epf qevoipdi (op gopfoph apfiswemaif caomfopht us fotvsittif timmist xju xomm vsefi raodl dmutopht gus civvis qsodoph). Upmz egvis zua'wi vjusuahjmz opwitvohevif emm ug vji wesoecmit, dep zua neli ep opgusnif fidotoup up xjivjis us puv vjot ot vji citv ati ug zuas jesf iespif fuxpqeznipv detj.