The Real Estate Encyclopedia
Joe and Ana Kovich
Category - Professionals in Real Estate - Real Estate Agents

Joe and Ana began investing in Real Estate in 2001 with the purchase of their first townhouse in Encino and the lot on which they eventually built their current home in Big Bear.  In 2001, the real estate market was very similar to the current market.   Prices were down from previous years and interest rates were low (although not anywhere near as low as they are today).  At the time, their interest rate was 7.75%, but the price was still low; and even after  paying taxes and HOA fees, they were only paying a little more than what they had been paying for rent in  West Los Angeles.  They were actually ahead of the game when you considered the tax deductions and they were finally building equity.  In fact, prices were going up so quickly that within 6 months, they had more than 20% equity, even though they had put down only 5%.  This allowed them to refinance and get rid of the PMI while getting the lower rate at the time of 6.75%.  They lived in the condo for three years
and sold it in 2004 for a profit of almost $220K (not bad for an initial $8000 investment).  At that time, they bought a fixer-upper in Burbank and moved in. 

While in Burbank, they started looking for investments out of state as prices in CA had sky-rocketed and it was no longer possible to rent out a property for enough to make the mortgage payments, even with 20% down.  So they bought a couple of properties in TX that paid for themselves (Principal, Interest, Taxes, and Insurance) with only 10% down. They also bought a condo on the water in Florida, with the idea of renting it out for the time being and then using it themselves in retirement; but "retirement" came a lot earlier than they expected.  That townhouse in Encino was the beginning of a string of real estate investments that eventually allowed them to quit their 9-5 jobs and move to their "vacation
home" in Big Bear. They now live off of the income from their rental properties and are able to spend time helping others find properties that will not only provide years of enjoyment for their families, but hopefully also lead them to the kind of financial freedom that Joe and Ana have found through Real Estate.


Contact Details:

Home office:  909-547-2026
Mobile phone: 909-271-1017


DRE lic. #'s: 01827318, 01380722

External Links

Professionals in Real Estate - Real Estate Agents
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