Holding my 2 bdr condo in DC - High Appreciation

[EJ Horstman]

Hey guys, I wanted to ask advice on my current crossroad. I own a 2 bdr condo in DC, purchased for 349k in 2017 and now valued at about 415k. It’s not a great rental prop per say, but it’s increasing at least 20k/year now.

I’d like to move to California and start investing out there, to be closer to my family. Temecula looks like a good market.

Right now my condo here in DC would have about -400 in cash flow (sad) but it’s increasing in value each year. I could sell and walk away with about 70k to invest in better rental props. Or I could keep the condo and just start investing with less capital in CA. Thoughts?

[Russell Brazil]

$400 in the hole every month really sucks.  So based on that, Id suggest selling.  But, while the market is generally on fire right now, condos in DC are actually very soft.  Even appropriately priced condos can take a long time to sell in DC right now.

@EJ Horstman what neighborhood is it in? In certain neighborhoods, section 8 rents can be substantially higher than market rate rents.