Updated over 5 years ago on . Most recent reply
Condos in San Francisco
Hello all,
I am new to real estate and was thrown into it after my father passed away and I inherited two high end condos in San Francisco. They are fully paid off with rents coming in total of $7950/month with cost of HOA fees and insurance with minimal repairs costs. Together they are worth approx 2million.
I have been trying to educate myself reading books and talking to others on best options especially with the market, Covid and how they could be lowering value of condos as people wanting to move to suburban areas.
It has been nice getting the extra cash flow and being a landlord has been fine however was considering taking some equity to get another property to generate more passive income and equity over long term. Not looking to build a massive real estate empire. With interested rates low thought could be a good idea. Also have goal to eventually buy my own home in the Bay Area but everything is so damn expensive.
Im not a vet but I work in healthcare at the Veterans Hospital and make a good salary. I max out my TSP and put some away in Roth so don't have much left from paycheck after monthly expenses. I also still have about $50000 left in student loan debt at 3%.
Any suggestions? Seems like I could have many options.
Thanks everybody!