All Forum Posts by: Brendan Wages

Good morning, 

I'm 24, active-duty military, currently own 2 condos-1 long distance rental with tenants, the other primary residence w/ a roommate tenant, in San Diego. I recently discovered that I absolutely abhor roommate living and started to entertain the idea of selling my current primary residence (2/2) and downsize to a 1/1 so I can comfortably afford a mortgage without the need for tenant rental income to offset cost of ownership. 

With that said, I bought my current residence, the 2/2, in March 2025 and will have to sell at a loss. It looks like, according to my realtor, I would need $30k-40k in order to completely payoff current loan (after selling), cover down on closing costs, fees (realtor's quote 1%), deposit or downpayment on a new property. I would love hear hear some opinions on this. Is it worth it for my peace of mind? I am truly going crazy with a roommate... I know for $10k, I'd cut my losses and do it without a second thought. But $30k-40k is a lot... or is not, in the grand scheme of peace of mind and long term appreciation of a 1/1 condo in San Diego? 

Additionally, I know I have the option of renting the unit out entirely and then renting a studio for my residence which would put me in a similar position financially as my current situation w/ the roommate. Open to any and all thoughts, suggestions. Thank you!

-Brendan

Good Evening,

I am a prospective buyer trying to get some information on how to present a seller financing option to an owner which appeals to the seller but also benefits me (prospective buyer). Here are the details...

370k 2/2 condo in Miami FL, I've submitted an offer at asking price, 10k down payment, and VA loan financing

It's a great property in a very desirable area but the monthly cost of ownership is more than I am ideally comfortable with at that 370k price. Additionally, the sellers have already received offers which almost certainly are more attractive than my VA loan offer. Are there any seller/creative financing options which could be very attractive to the seller, more attractive than say an offer of 20% down at asking price/conventional loan (which I'm sure they've received) AND could help get my monthly cost of ownership down? Wraparound mortgage? Sub to? Assumable mortgage? All thoughts are appreciated! Thanks!