All Forum Posts by: Huimin Zhang

Took my my time to re-read every posts here. I am a newb to BP and literally just registered my account. I was confused by this for a while and decided to try to post my question here. I never expected that there would be so many responses and so many different thoughts. Thank you everyone for sharing your opinions!! I couldn't be thankful more to learn from experienced investors! One thing is for sure, now it is definitely not the best time for us go ahead selling the property and investing else where without enough market research (we have made misjudgment once, and don't wish this to happen again!). There are so many advices given in the forum and they are valuable!! We decided to hold on the property until we figure out which investment direction we want to take, either OOS OR selling and buying OR STR. It's all about LEARNING right now!

So, many people are asking $$: mortgage $3500, insurance $30, tax $1200, HOA $500, and RENT $3350 (2b2.5b TH in decent condition), not counting repairs/ maintenance/ possible vacancy.

 We have seen price cuts and the market is cooling down starting end of 2018. It will grow eventually but I highly doubt it could be the same pace as last few years. As many mentioned above, this is a gamble and I don't even trust it myself... It is not too late now before we take further actions... 

@Maria D'Aura Thanks for the advise! We were not thinking it through when we moved in and our friend needed a bedroom at that time, and here we are now with the "discount price". 

@Paul Choi Thanks, Paul!! Totally agree and totally understand! 

@Jim D. Jim, having a rental property in the Bay is just easier for us to manage, and I have to admit that we barely know anything about OOS investment. I was inspired so much from BP website and eagerly trying to figure out what my goal is! A LOT of research need to be done!!! Appreciate your input!

We bought this place to live at the first place. Nice location and it is reverse commute for me everyday. Great restaurant nearby and safe neighborhood. So at that time, it was fine even we are losing money or we don't see future growth. And then, we got a chance to buy a second house and it is way bigger (of course worse traffic, okay community), and we moved out from the MTV property. Now, it became painful to see and finally realize we are losing money every month. If we sell the MTV property right now, possibly could only sell it at the price we bought it, it is a big loss with all the misc fee and our monthly losses. It is hard to admit, but we are unwise with our money, way too less planning. Before we go ahead and sell it, we need to find another place to put the money. Any suggestions in the bay area? :(

@Leo Kotschenreuther yea, I having seen older posts saying the Bay Area market is cooling down, but it’s still growing. Good houses sell fast and people are willing to add $$ to outbid others. Thanks for your input! The main thing would be us figuring out what we want.

@Dylan Vargas you are definitely a help! We are renting to a friend so it’s “friends discount”. If we could rent it to a family, we would collect higher rent for sure ( I’m thinking at least $200 higher per month). I would definitely check if there is anything we can do right now while we are doing more RE research!

@Alex Mao Thanks for the input! Yea, our main goal now is to figure out which direction we would like to go, cash flow or appreciation. I have heard a lot regarding Bay Area housing prices reaching its cap soon, and I’m thinking the same to be honest. Thanks again for the input and we will try to learn more on BP and talk to a realtor when we are ready to make a step further!

@Dylan Vargas it’s $2000/month, and it’s tough! We are living somewhere else. If we were living there, the monthly cash flow would be negative $3500. The market is doing okay right now, and the location is great (close to google, almost no vacancy). 1.2m for a 2b2.5b townhome is already very high and we are unsure if the market can skyrocket again to make our loss back. :(