Quote from @Jonathan Greene:
Are you still active duty or home? If you don't live in that property, do you own another home or rent? As an asset, it will keep going up, but with your rate versus the current rates, refinancing isn't an option so you could only use a HELOC.
Based only on what I read, I would hold onto it because it's a good asset in a high-appreciation market. Being so close to the bases, you could make change it at some point from a long-term rental to short-term (for families coming into town) or mid-term (for military contract workers) and that would earn you more.
For now, I would keep saving and invest in something else and leave this as it is.
Thanks for the input. Still active duty but live in Utah. I have a Duplex that's performing poorly in north salt lake. So the house in Cali is my asset. Unfortunately, the zoning requirements for my area do not allow short term rentals. Maybe Mid term but I would have to look into that more. Therefore, Long term is my only option.
If i hold for 26ish more years it could be worth 2+mil. On the flip side, could I reposition my holding and have another asset worth more?
Some quick heloc calculations I could be approved for maybe 150k. with 8.35% rate 20 year repayment = $1287 bill. Where can I find a asset for 150k that generates more than $1287/mo? lol.
I appreciate the chat guys. Just trying to talk out loud and I dont have alot of "like minded" people around.
