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Updated 3 days ago, 12/25/2024

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Jeffrey Mair
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Seeking Advice to Buy in Expensive San Diego Market

Jeffrey Mair
Posted

Hello, I am seeking advice or creative ideas to move closer to the goal of owning a home in San Diego county without the obvious solution of selling off my small rental portfolio. I am by no means a savvy investor so I would just like to hear other ideas that may be unconventional for a normal guy without much experience.  I have 100k cash savings and ideally would like to keep the investment properties. Single family homes in our preferred area are approximately 750k.  Affordability is no more that $4500 per month  morthage/taxes insurance.  Do I sell? Do I cash out refi? Do I have any other options? Thanks you for any advice

Here is my situation:

Currently renting 3/2 SFH in Santee,CA From my parents for under market rent but have a timeline to be out or in another property in the next 1.5 years.

We own 2 properties in El Centro, CA:

SFH 3/2.5 (built 2016) worth approx 650k. Owe 300k. Rents for $2800. Payment 2k interest rate 3.5%

Duplex 2x 2/1 (built 1950) worth approx 300k. Owe 150k. Combined rent $1950. Payment $1100. Interest rate 3.8%

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