Hello been lurking here since before 2019, used the knowledge and speculation from here and many websites to make decisions regarding investing and whether to go into real estate or stocks.
Anyway I can provide more background later but on to the subject judge my decisions related to my RE investments as first timer spanning year 2019 to 2022. At the moment this is humble bragging but maybe I made mistakes that I dont identify as a newbie. If it was stupid idea be brutal let me know how it will all come crashing down.
First I will provide the moves then the justifications after this post marinates for a bit
April 2019 - 1st Home Purchase COE
Location - East Contra Costa County
Price - $300,000
Int Rate - %3.25 30 years
Downpayment - 0
Closing Costs - 0
Other Costs - $15,000 improvements / rental preparation
Mortgage PITI - 1672
Rental Income - 2100
3 Bed/1Bath House
Less than 1000 sq ft
Front Porch
No garage LOL
Small Tiny Side yard, on big lot with easement
Neighborhood - THA HOOD shootings at the far end of the street every month, no impact on ownership since
Jan - May 2022 - 2nd Home Purchase COE
Location - Marin County
Price - $700,000
Int Rate - %2.875 30 years
Actual Closing costs - $0 (due to using proceeds from future sale to pay all downpayment and closing costs)
Downpayment - 70,000
Closing Costs - 12,000
Other Costs - Potential Minor Repairs of $5000
Mortgage PITI - 3500
Rental Income - Prospective Tenant at 3600 (Says I could have charged more)
Current Estimated Value - $850,000 (aprraised at $805,000 recent comps place at 850,000)
Equity - $220,000
2 Bed/1Bath House
Less than 1000 sq ft
Front Porch, Nice Rear Privacy Deck
Attached 1 Car Garage
2 Car Length Driveway
Small Tiny side yard
Neighborhood - Nice neighborhood new owners all around, not many rental, some day care homes nearby. Low end home values in the city
June 2022 - 1st Home Sale COE
Location - East Contra Costa County
Price - $450,000
Proceeds - Around $100,000
after taxes, commisions, closing costs
Proceeds used to pay myself back for costs of 2nd Marin County Home Purchase