All Forum Posts by: Deva Kamatham

Thank you all for the replies. I have Conf 5/1 LIBOR (5/2/5) from 8/1/2012 with 2.75 rate currently. Currently 100 cashflow as I am managing it. Rent is around 2400 mortgage is around 2300 (including pmi until 2018, tax insurance) . if i give property manager then i need to bring additional income to keep the home. not considering vacancies and fixings.  Leaning towards selling and buy a home paid off with some cashflow somewhere outside CA as some suggested. 

I forgot to say if i sell now i am qualified for no tax period in both countries. if i wait longer i might hit with tax in both countries where i live and hold the property. This part makes me to think to sell and invest later with cash. 

Thanks

Dev

Hello Gurus,

My situation is very confusing, please advice. I have a home in los angeles and worth about 500 + now with an equity of 140 k. I quit my day job a year ago and moved out of country as I am not interested to work in IT for longer. my income currently is real estate rentals and some agriculture in foreign country. Currently i have ARM with another 2 years left over for that fixed period and then variable start. I rented this home in LA and managed by myself( Difficult and i was lucky so far). Now that tenant moved out i am thinking of selling as no cashflow on it with the loan, mortgage insurance which wont drop for another 3 years.

My question is should i sell the home and invest that money in real estate rehabbing? ( I have plenty of time now) or should i leave that house as is and look for real estate with self directed IRA ( i have around 120 k on it) ? Please advice.

Thanks

Dev