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All Forum Posts by: Edgar Ponce de Leon

Edgar Ponce de Leon has started 2 posts and replied 2 times.

Hi Everyone,

I have a potential Buy & Hold opportunity, but I'm not sure if these numbers are what San Diego Investors are looking for. Any insight is much appreciated, thanks!

Escondido, CA 

SFR 4 bed, 2 bath.

Renters are already in Place.

Immediate rehab needed: Roof

Rental Income - $3,200

Expenses – $2,893

Monthly Cash Flow: $306

Cash on Cash ROI: 2.87%

Buyer Loan Details (Hypothetical)

Total Cash Needed: $128,060

Purchase Price: $442,600

Loan Amount: $354,080 (20%)

Loan Term: 30 years

Interest Rate: 4%

Mortgage payment: $1690.43

Property Value estimate:

After Roof repair, flooring, paint ARV: $580,000
Full "HGTV" Rehab ARV:$630,000

I'm trying to figure out what the best feasible path to take is?

Option A: I'm trying to figure out if it's feasible to rent my current home, pull out the equity, and use the cash for a down payment on a new home. 

Option B: Sell the home now, rent an "RV", then wait for a great deal/home in a "Buyers" market in 6mo - 1yr.

Any help would be greatly appreciated.