Repositioning Equity from Jersey City NJ to Berkeley CA

[Sateesh Kumar]

Hello,

A job relocation to San Francisco CA early this year is making me ponder if I should be selling my owner occupied duplex in Jersey City and buy something in Berkeley CA due to its proximity to San Francisco and has some fairly decent schools  for my kids and also UC Berkeley .

The low  2.5% interest rate on the Jersey City property turned into a golden chain but I think I am done with managing tenants and property and would like to get more into an Equity play. Kindly provide your input what would be the best place in the CA Bay Area to reposition my equity up to 700k? I am also open to other areas like Dublin, San Jose.

Thanks

[Jonathan Greene]

Depending on when you bought in Jersey City, you are probably in a good position to sell now in general. However, JC as you know is overrun with new build multifamily options so there is a lot of competition in Hudson Co whereas the suburbs there is none.

It really depends if you need the money to buy a house out there and want to plant roots. If yes and yes, you sell. If you don't need to sell to buy out there, you want to see what your cash flow would be when you leave before making a decision.