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Updated over 5 years ago on . Most recent reply

User Stats

4
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2
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Bryan Swift
  • San Diego
2
Votes |
4
Posts

Next investment move advice

Bryan Swift
  • San Diego
Posted

I would love to hear thoughts on what to do on my next move the way I am currently structured.  I'm 49, married with 2 high school kids and have the ability to put down $40 - 120K (would have to cash in stocks for the latter high end $ amount).  My daughter is likely going to Boise State next year so I have been focused on possibly house hacking into a multiplex.  Below are the stats for my two rentals and residence.  The rentals are at a break even, but have built considerable equity including my residence.  Looking for buy and hold investments for the long term.  Let me know your thoughts!

Rental – San Diego Mission Valley - $273,595 equity

Mortgage 4.5% 30 yr fixed $167,560 balance; Value $446,255

Mortgage payment $1,421. HOA $409.87; Insurance $26.25 Rent $2,050. (Net +$192.88)

Rental – Las Vegas - $110K equity

Mortgage just put into 3.875% 15 yr. fixed $159,897 balance; Value $269,601 

Mortgage payment $1,397.05 HOA $62.50; Insurance $35.58; management $104.63; Rent $1,395 (-$204.76)

Residence – San Diego - $1,129,370 equity

Mortgage interest 3.375% 30 yr. fixed $329,709 balance; Value $1,459,079 

Mortgage payment $2,998.53; HOA $76

Home equity line – residence - $45,313. balance

Interest 4.74% 230K limit 

Real Estate sum: $378,935 equity in rentals; $1,129,370 equity in residence

$1,508,305 total real estate equity

Most Popular Reply

User Stats

4
Posts
2
Votes
Bryan Swift
  • San Diego
2
Votes |
4
Posts
Bryan Swift
  • San Diego
Replied

You may have missed the I just refi'd the Las Vegas rental from a 30 to 15 yr loan and the other two properties it would not make sense at the current rates they are at.  Unless you are referring to pulling money out

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