All Forum Posts by: Shawn S.

@Nabil Suleiman Thank you Nabil. I’m getting married and my fiancé wants to move so we are moving to new construction in the area. Which appears to be not ideal for resale or appreciation but seems to work for now.

With the condo- I’m very certain that I can get a better cash on cash return many other places. Not sure about appreciation. I suppose selling, taking tax free proceeds and looking for another investment might be best in this case. Thank you again.

@Kris L.  Thank you for your response.  I'm very grateful that this is the case, yet I'm also slightly disappointed that keeping it as a rental probably does not make sense.  

I have one bedroom one bath condo in Los Angeles county. Purchased 3 years ago for $232k, I have about $22k into it (including the 5% downpayment).  The current loan balance is $206k and its appraising now at $300k. 
I might be able to rent it for $1,800 per month which would net about $45 a month.  I've never been a landlord.  Debating on trying it or selling and taking the proceeds to a turnkey out of state.  Any feedback or similar experience would be much appreciated.

I’m new here and I only have one property which is my main home, I’ve lived in it for three years. It’s a one bedroom one bath condo that I bought for $232k, 5% down and probably put $20k into it. It appraised now at $330k. Loan balance is $205k. Should I cash out refi and take 3.375% (paying a point) or take a 3.125% no cash out no points. Seems like a no brainer- take the cash out, find an investment property and find a tenant. Sounds easy but I know it’s not- am I missing something?

@Chris Clothier thank you Chris, I really appreciate it!

@Chris Stroup thank you at the moment I’m only considering buying from an out of state turnkey service. We live in California. Thanks again

I’m close to purchasing my first turnkey and I wanted to see what others thought about doing this during a pandemic. With unemployment rates running so high it seems likely that I could end up with an unemployed tenant that’s unable to pay rent. I want to invest just not sure if now is the best time. I know there is probably never a perfect time for anything. Would be great to hear your thoughts