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Updated about 5 years ago on . Most recent reply

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258
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35
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Kumar Gaurav
35
Votes |
258
Posts

What would you do in my situation?

Kumar Gaurav
Posted

Hello,

I have a very tricky situation.I moved to East Bay California from East Coast due to a job change however my wife and kids are still in East coast not a great situation to be in as I miss my family .The reasons I had to leave my family back are the following.

1)I bought a triplex owner occupied mf home couple of years ago  I am ruing that decision now as the move would have been a lot easier if only I continued  renting.

2) The triplex hasn't appreciated enough 

to sell but will most likely break even if I happen to sell but there is potential for further appreciation in the near future just to give the numbers i bought the home for 750k and will most likely be able to sell for 850k

3)The rents are kind of ok , the home started helping me househack and live for almost free in a decent size apartment and great school area to raise my family after I invested in few upgrades.A similar apartment would cost me at least $2000 in the same neighborhood.I will certainly end up negative cash flowing if I make a move(after taking into consideration moving costs, maintenance and managing home from out of state,etc)

4)I plan to live in San Francisco for another year or so as I am finding it extremely expensive both renting or buying. For $2000+ I will end up living in a substantially downsized apartment in a decent school area and buying a home at 750k will fetch me a minimalisic home with heavy hoa fees in the East Bay area.

Upon giving it some thought here is what started making sense to me. Sell home in East coast but continue house hacking in West Coast perhaps areas such as Sacramento in a decent school area that can give me an optimal balance so that I can at least visit my family once every week.

What would you do in my situation? appreciate your feedback.

Thanks

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