All Forum Posts by: Kevin Jorgensen

Stan K. Thanks for the link! Brent Coombs well coming here is indeed for the help. I think the only luxury we do is nice vacations. If we hadn't been doing that we'd be ahead much more. As to how to proceed here forward that's where I'm looking for the best option.

Thanks all.

@Brent Coombs I agree that we are in 2006 all over again with subprime loans and inflated prices. Is it more wise to wait for home prices to flatten out or drop but have a higher rate? If so, does now equate to a bad time in general to do REI?

I agree that the rent margin is silly thin. But all that is based on Zillow data which, as was pointed out, is funny money. So I'll be double checking that. 

So I suppose if selling/buying is a poor option, I could wait it out until tubes are better and perhaps join a local REI club to get into my first properties....

@Stan K. Thank you for the reply. If we sold is the next natural question.

My instinct is to begin in rental properties that aren't nearly as expensive as my current home. I've read a fair deal on what makes a good property(s) to target.

My pie in the sky goal would be in ten years to work half as much as I do now, and replace/outpace my current income and that means being aggressive with REI or jumping into some other form of personal business.

My Wife on the other hand, wants nothing more than the big house, with the wrap around porch. But I see that large mortgage as limiting to my investment diversity to one major asset. 

Hello,

I'm quiet new here, am interested in REI, but am at a crossroads and am ready for advice.

Classic question: Do I rent my home, or sell it? 

Based on the allpropertymanagement.com rentVSsell calculator, it falls on the "Rent" side of the fence.

I'm in the 97007 area code, with a house that's 11% above the median in a 'cool' market (according to Zillow - but it's nearly December, who buys houses in December? I digress). 

I foolishly bought in in June of 06' on an 80/20 100% finance loan for the 345k price.

As far as now:

- Loan at 4.25%, with remainder of $178,000

- zEstimate is $424,000

- Taxes suck at $4,400/year

- Monthly Rent zEstimate = $2,100

- zEstimate appreciation of 5.6%

I'm not keen on being a landlord, so would be interested in having PM done.

Between my wife and I, we have an income well over 200k, so either one of us could float the costs on this home if it were to go unrented.

(There happens to be a much more new home in the neighborhood also up for rent, but seems to have been this way for some time now, which concerns me, but I've yet to look at what they are charging rent)

Any good direction/advice on this I'd be keenly interested in.

Regards,

Kevin

Hi Jay, I'm new to BiggerPockets. So this is an impressive post for my very first forum visit. I happen to live in Aloha, and if it were not for the proximity, I may not have reached out. If you decide to do a house locally I'll be happy to put my name in the hat. The philanthropic aspect is a nice touch to an already impressive gesture to this community. If you have the time I'd be interested in tossing a few questions your way. Regards, Kevin