To rent or to sell in Playa del Rey

[Amaya Palmeri]

Hi there, long time listener to the podcast, first time poster here. My husband and I have a two bedroom condo in Playa del Rey which has seen significant appreciation in the past few years. We're trying to decide whether to hang onto it, become landlords and use the equity to purchase our next place or just sell, take the profit and focus on purchasing another fixer-upper in an area we foresee appreciation. (Los Angeles wouldn't be my first choice to have a rental due to the amount of capital it ties up but with all the tech companies moving down to this area, it's making us consider a longer-term strategy.) Any input is appreciated!

[Amaya Palmeri]

Thank you all for your responses! It's been incredibly helpful to hear others' perspectives. We decided to sell but as to everyone's question "what would we do with the money?"...well, we're all over the map. We have family we can stay with so we're not in a huge rush on the buy side but here are a few ideas we're throwing around.

1) Look for a SFH in an area with a lot of appreciation potential in the next few years (thinking Inglewood in light of the new stadium and all the development down there)

2) Look for a 2-4plex in Torrance/Redondo area- live in one, rent the other.

3) Look for better cash flow and lower purchase prices out of state- would focus on MF properties.

Once we narrow down which direction we're going in, I will absolutely reach out to those offering their services/expertise. (Also, totally open to opinions on these strategies or others we haven't thought of!)

Thanks again for all the support!