All Forum Posts by: Mary Ainsworth

Hey! I'm just learning how to analyze deals and I'm confused about how to estimate property taxes. 

option 1: someone told me that property taxes are about 1.25% of a property's purchase price

option 2: the mortgage estimation on the MLS + property tax estimator on the MLS

Which of these 2 options would be more accurate?

Thank you!!

Has anyone tried using a 203k loan in San Diego? I'm looking to buy my first property with 3.5% down and I want to force that appreciation by renovating it and tying that renovation cost into the loan I get. 

Has anyone done this with a 203k loan in San Diego? And if so, any advice or recommendations? Thanks!

 Thanks Manraj! That is super good to know, I'll look into the panel homes a bit more, could be a great option :)

 Thanks for the input! So you would suggest a manufactured home with the land attached, but even without the land, it could be a beneficial investment?

 Thank you for the advice! I am definitely planning to value add in some capacity so I'll keep that in mind. I am probably going to use a 3% down conventional loan, I know a manufactured home is cheaper but I understand it may not be worth it considering low appreciation then - thanks! 

I'm looking to buy my first property and house hack in San Diego soon. I know it's hard to cash flow in San Diego but appreciation can make it work. However I was wondering if anyone has tried house hacking a manufactured house? I just finished college and I'm 21 so I don't have a lot saved up right now, so if I want to buy sooner I was thinking this could be a good option. Has anyone tried this or have any advice on how this would look for a house hack?

Thanks!!

@Wesley I. That's a great way to approach it, thanks for that advice! 

@George Despotopoulos Thanks for letting me know! I am looking to house hack in a single-family home that's rent-ready, so probably looking for someone else, thank you though!

Thanks so much Jason! This is super helpful

I heard on a webinar that closing costs are generally 1-2%, but when I looked it up, San Diego seemed to be much higher (or California at least). What do people usually estimate closing costs to be in San Diego when you're looking at a deal?

I'd also love to hear any recommendations people have for learning how to better analyze properties in SD! :)