All Forum Posts by: Nathaniel Donnelly

Plenty of great advice and debate from all of you. BP never lets me down! I sincerely appreciate all of the input from you all, and now I feel we have some great information (as well as a meeting with our CPA yesterday) to make an informed decision.  I'll keep you all posted as to what we end up doing.

A very sincere thanks!

Hello all! Been a while since I've been on, but I'm looking to get active once more.

Situation: My significant other bought her house in San Diego in 2006 and survived the 2008 crash by refinancing with an ARM that had an amazing rate. It was the right thing for her to do at the time, and she weathered the storm and now has roughly $200k in equity in the home. However, the ARM's interest rate has now increased to a point where the mortgage has eclipsed the rental income as of January 1st.

Although I promised myself years ago to NEVER SELL A HOME, my initial thought now is to sell immediately, but I'm not exactly sure how much we will have to pay in taxes if we do. We have not used it as our primary in the last two years.

I'd like to turn the profits into an out-of-state property, possibly with Memphis Invest, but we also have a bit of debt to settle as well work that needs to be done to our primary SFR that would take precedence.

Refinancing to a fixed-rate mortgage isn't an option as my latest entrepreneurial experiment failed and we took more than a few 30-day lates on some things over the last year or so. (We have recovered since ;-)

Anyone feel like chiming in with some helpful knowledge?  Thanks in advance!

Hello BP!

I have two friends, a brother and sister, that are looking to co-sign on an investment together in San Diego. The brother will be using a VA loan, and living in the house as his primary, and he will leas individual rooms out. The sister is married, but will be in the market to relocate with her family to San Diego in about 1 year's time.

My question is this: How will the sister's act of co-signing affect her family's ability to purchase a home when the time comes?  Aside from the obvious, is there anything else they need to be aware of?

Thanks in advance!

Thanks @Jody Rouse!

Hello BP!

I am an investor in San Diego as well as a new RE Salesperson.  When getting things like crime statistics, appreciation, school quality, walkability, et cetera, what is the best place to find this information?  Neighborhood Scout seems great, but is it worth the ~$15 per month?

Thank you in advance!

Excellent!  Thanks Bruce!  Calling today!

So does anyone have a recommendation for a small bank in San Diego?

Great info everyone!  I really appreciate the feedback.  I have a good idea of how I'm going to go about this now.  Thanks!

Haha, just realized you may be their competition.  Let me watch your video when I get home.  Interesting.

Perfect!  Thanks, Derrick!  Have you worked with Memphis Invest at all?  If so, any words of wisdom?