All Forum Posts by: Dante Anderson

I really hope not, I'm just seeing in the last 3 months here in San Diego homes are on the market longer and List vs sales price is lower. In the end we will see and hopefully it's not as bad as 2008

Do you think now is the time to sell in California? I've been doing my research and it seems at least in my market there's been a small shift in San Diego. On the buyers end what do you suggest to continue renting until we see a bigger shift or do you suggest buy now while rates are low and holding for 10 years minimum?

@Caleb Heimsoth 

Is using a HELOC to put a down payment on a property a good idea in your opinion? Or do you recommend paying the property off in full? We can't see ourselves living anywhere outside of San Diego or LA both have high rents. Overseas is an option as well

@kevin Fox Property managers in San Diego and doing my own advertising my rents would have me breaking even at $2300 month. I will more rhan likely hirea property manager causing me to lose our on 7 to 10% of that. We keep debating our appreciation from our home vs getting out with the equity. As well as using the HELOC to buy out of state. Right now we're 50/50 on selling and renting. We have to pay capital gains tax if we sell before November, so we have a little time to figure it out

@Omar Khan My main goal is to buy as many multi family properties as possible so that i can have financial freedom for my kids to take over. My problem is i love San Diego and im trying to dot my eyes and cross my tees before giving up on owning in San Diego at this time in my life. I feel like i will have to come out of pocket at least $200 after renting. In the end the units are my main focus because i would still be in a townhome and probably paying over $600 with our HOA rising each year. Using the HELOC I would have around 20k to put down on another property. Any other cities you recommend looking into to find good cash flow properties?

@Jay Helms we were going to head South of the border to Rosarito/ Ensanada, Mexico to save up for a coupleof years and still be close to the property in San Diego. Thank you for giving me a better understanding of the HELOC.

I currently own a 2 bedroom 2 1/2 bath townhome in South Park, San Diego. This is the first property I've ever bought and purchased in November 2016. I want to start investing in multi family units and i need advice. My home according to my realtor would sale for $470k and possibly more if i was to put it on the market. If that's true i have around $140k in equity at this moment. My agent told me i could 1- sale after 2 years in November and hope the market continues to rise and buy a multi family property in Vegas or Arizona or 2-(What she said she would do) Hold on to the property, refinance use the equity to either put 20% down or pay off the multi family property and rent out both my townhome and MFH. Mortgage is around $1700 and HOA fees around $530. At the moment im doing research on how much my townhome would rent for if i kept it. What would be the best way to go in your opinion? All feedback welcome