All Forum Posts by: Kenneth Donaghy

@Dan Deng, I agree with the rest with the people who say, sell, take advantage of the tax free gains. Purchase something in SD when it's right. You want to get a positive return on your equity!

@Susan V. if it's too good to be true, its not. I've seen a lot of scams in the space these days on FB. When there's savings and bonds accounts offering 5%, the likely anyone is advertising they have private or hard morning at 5% is most likely a scam. Especially if they don't want to use an escrow account.

Hi @Pablo Weber,

You have done a great job putting yourself in a good home buying position. 

Your loan amount will be based on your DTI (debt to income ratio), so the more you put down the higher the purchase price will be.

In your situation how much to put down will be your preference. I personally like to be higher leveraged with a lower down payment, so I have more funds for my next investment. I also pay attention to my return on equity. If I can get a better return on investments elsewhere than locked up in my property I rather do that.

Some of my investor friends and clients want a lower monthly payment so will opt to put more money down, and have more equity in the home. 

I always ask my clients about their goals. Having more clarity about where we want to go, narrows down or next best moves. 

I am a strong believer in househacking, that's buying an owner occupied property, and renting out a portions of the property, that can be rent-by-the-room or purchasing a small multifamily 2-4 units and renting out the other units. Supplementing the mortgage that way. 

If you were willing to put more money down, you may be able to buy a larger asset to rent out the other units. I have also witness people play small, buy up 100s of condos, to eventually exchanged them for larger properties. 

It really comes down to your goals, risk tolerance, having the right realtor, lenders, coaches, you trust to guide you through the process and help you achieve your goals.

Hope that helps, and we can always jump on a call for more clarity.  

 60 day notice is required, and fair, since I know being fair is important to you

Are you looking for a partner to help fund and/or partner in the development? Or are you looking for a partner to buy and hold undeveloped land? 

@Maria De La Vega 

I think from all your responses, @Dan H. has given you great advice.

Are you Househacking with the Rent By the Room strategy? Being in Central SD myself, your rent is already generous, and a $50 increase will further your generosity. I'm sure your expenses have increased by more the $50/room in the last two years. We all are handling inflation. Your tenants know this too. 

@Craig Cecin I suggest to active duty here in San Diego, depending on their situation, househack here local by using your VA entitlement. And invest out of state with BRRRR's or turn keys... It's possible to do both when putting your mind to it. I have help active duty househack, either 2-4 units or one unit with a Rent-by-the Room. The right RbtR will have a better possibility of cash flowing sooner here.

@Scott Albritton rezoning is probably not what you are wanting to do. But I would need to hear more about the property to better make any suggestions. 

@Trenton Brown I agree with a lot of the feedback you have already received, those two areas are completely different. I tell a lot of my relocation clients looking to househack, and chose an area to live at the same time. Let's start with your budget, then within that budget, we can look into what neighborhoods are best. 

And BTW, according to Furnish Finder, San Diego is the most search city for MTR's, and has the most MTR's. 

@William Ladd - Yep, I nominate @Doug Spence! Get him while you still can because I see his mentorships will be in high demand very soon!