All Forum Posts by: Sherwin Gonzales

@Johnson H, This meetup sounds great! Thanks for setting it up. 

Hopefully I can make it. I own property in downtown San Jose and am wondering how the market is down there and if I should refi and keep my property or sell. I'd be coming down from San Francisco and after my day job, so with traffic and all, it might be hard.

If I don't make this one, hopefully I'll make the next one. Maybe one up in SF?

Wow!  Thank you all for the great tips and advice. I've got a lot to think about.

Yes, the property is in the Bay Area...in San Jose Japantown to be exact. The property has been appreciating every month and so has the rents around the area.

I know that "speculating" is a very dangerous term in real estate.

I appreciate all the tips and keep them coming!

I currently own a loft that I am renting out in an up and coming neighborhood that has many planned developments in the works, which include apartments, retail, parks, etc. all walking distance from my property.

The property is producing me negative cash flow now and if I choose to refi and keep the property, it will be -$600 out of my pocket every month to cover items such items as the property tax, HOA, etc. The current rent only covers the mortgage.

According to zestimate, which I know is not entirely accurate but just for the sake of argument, the property has appreciated 50k in the past 6 months.

Should I refi and keep the property at -$600 per month (-$7200 per year) hoping that within a years time the property would appreciate at least $7200 to cover my losses or should I just sell and take the equity and buy another property?

I owe 409k in loans and my neighbor just sold his property, which is a mirrored version of my loft, just 6 months ago for 527k.

Thanks in advance for any advice!

@Mike Darcey, Welcome to BP! I just joined BP not too long ago and it's always nice to see people from back home! I'm originally from Honolulu, Hawaii but now live in SF, CA.

@Michael Borger, any tips on which area in Oahu is awesome for real estate investing? I'd like to purchase a property back home one day. It'll give me an excuse to visit the island and my family!

Hello BP universe!

My name is Sherwin and I'm a designer in an architecture firm looking to get more involved in real estate investing. I was born and raised in Honolulu, Hawaii, but currently live in San Francisco, CA.

It'll be awesome to get connected with investors in my area especially to build relationships to bounce ideas.

Glad to be part of the BP family!