All Forum Posts by: John Simerson

Thats what me and my wife decided on this morning, keeping our small condo and selling the larger home as our value has went up a bit in the past couple days hoping to come close to breaking even. cut our loses and move on. As for san diego has anyone purchased a property in a decent neighborhood for $100k? San diego feels so tough to amke numbers work but id hope our next home i can get below retail and build it into our home to be home any help and suggestions is greatly appreciated

1 of my properties is in 92108 the one that will cost be a difference of $280 and the other is in 92120 which is the difference of $800. Again of them have potential for lower mortgage if i can knock off the pmi but my quesation is is breaking even not including potential expenses worth it? reason we have left both properties we bought both to be our home the 92108 condo our neighbor began firing rounds in homes during covid so we decided to leave we then purchased our 92120 home but now have to relovate to take care of a family memebr with a health issue. 

@Dan H. hi dan thank you fo ryour input i see your in poway would it be possible to have a consult with you? i purchased the properties as a home for my family not investment so paid retail. My first was shot up from a person strressed about covid my second home we are moving due to my family memebr needing 24/7 care, luck of the trade im stuck with i crunch numbers all day but unforseen stuff has forced me inn  this corner

Hi, im in San Diego California I have 2 properties one property that rents for $280 less than my mortgage and the other that rents for $800 less than my mortgage. Both have a pmi i could wash away probably in a year. I see in california the equity each year is a good amount PROPERTY 1 gained $23k in equity and property 2 gained about $30k all in 1 year so my question is is it a smart thing to hold and pay the little differences in rent vs. mortgage and bank on the equity 15 years down the road? Or should i wipe my hands clean with them and take a loss of about $30k in closing cost from purchasing about a year ago and get $70k net cash after all is said and done . My family member has become sick and we have to relocate to help them and this is kind of the situation im stuck any experience, recommendation or opinion is greatly appreciated thank you so much.

Hi, im in San Diego California I have 2 properties one property that rents for $280 less than my mortgage and the other that rents for $800 less than my mortgage. Both have a pmi i could wash away probably in a year. I see in california the equity each year is a good amount PROPERTY 1 gained $23k in equity and property 2 gained about $30k all in 1 year so my question is is it a smart thing to hold and pay the little differences in rent vs. mortgage and bank on the equity 15 years down the road? Or should i wipe my hands clean with them and take a loss of about $30k in closing cost from purchasing about a year ago and get $70k net cash after all is said and done . My family member has become sick and we have to relocate to help them and this is kind of the situation im stuck any experience, recommendation or opinion is greatly appreciated thank you so much. 

Hi guys this is my first post here, and am not to educated on permits or regulation so any advice is well appreciated. Long story short a friend is selling his duplex here in California to me for a good deal but the duplex in the back doesn't have permits and doesn't have its own address. Is this a big deal? Could I still rent it out as LTR? Is STR an option? Any advice is appreciated thank you!