usctrojanman29_IHB
New member
I've been very fortunate or lucky, whichever you want to look at it. About a year after I finished college in early 98, I bought a Huntington Beach 3bd/2ba 1,200sf condo for $109,000 with a 6% 15-year fixed loan of $85,000. I then refianced with a $250,000 30-year fixed rate @ 5% in June of 2003. I then took the proceeds and renovated the condo, bought a Vegas home for $409,000, and had a 10% downpayment for my Irvine condo which I got into contract in Jan. 2004 (phase 2 of the development). I did open a few HELOCs to pay for grad school as well as purchase a car and pay for medical expenses. I rent the HB condo out for $1,850/month and am amlost $400/month cash flow positive. I guess I should have sold everything off back in 2005/2006, but my dad lives in the Vegas home and HB condo has such a low property tax bill and mortgage that it doesnt make sense to see it.