All Forum Posts by: Kenneth Donaghy

That's an interesting one. If you only have 60k to work with, which way will get yourself back to working capital quicker? Will you be able to refinance once the ADU is built? Although ADU refi's are a moving target still. Can you build a bigger ADU? Again, I would like to focus on what moves will replenish the funds faster to reinvest quicker, if that makes sense.

@Tania Lopez Because there can be a lot of moving pieces, to give you good advice I would need to know more information. But to start, usually it would be best to identify the property you want to purchase first, but in this hot market its more difficult to get a contingent offer accepted. Therefore your listing should make it clear 

"the sale of property is contingent on Seller finding suitable replacement property." "Buyer to cooperate with Seller's 1031 exchange at no cost to the Buyer." 

Make sure you are working with a realtor clearly understands how to structure these deals on paper, and clearly able to communicate to all parties in the transaction, there can be a lot of moving parts. Personally I have been on both sides of a transaction where multiple properties where being sold to purchase one, it's very important to make sure things align accordingly.   

@Vidal Preciado I come from the mindset of doing both. What are your long terms goals? Do you plan on staying in SD? I have one clients who purchased the first half of last year are refinancing with a lot more equity than expected. Some are purchasing again this year. 

@Manuel Moreno Jr, It's important to know your budget, and where you would like to live. You can PM me those details if you rather share privately. 

@Javier Mendez Good post. The South Park / Golden Hill area is a great area with good community. Finding a good SFR under 700K that fits your expectations could be challenging. It is a Seller's market, with properties appreciating quickly. As well, there is a lot of speculation on how, when, and where the STR regulations will take place, something to keep a strong eye on.

@Benjamin Fishler thanks for the update, please keep us posted!

@Benjamin Fishler I agree with option @Tim G. mentioned. Yes a more knowledgable LO would have foreseen possible issues, if they're a broker, it could be as simple as moving the file to a different lender if the current lender still has an issue. 

Yep, someone told me to take the weekend crash course, so i did, and I tell others the same!

Kensha Yōkoso

Happy to help you with any questions! 

@Timothy M Tencate, I strongly suggest writing down some things that are important to you and your family. Schools, commute, location, lifestyle, space, and what price and monthly expenses you feel comfortable. That would be a start to help narrow down what areas make sense for your family. Best.