All Forum Posts by: Susan Brown

@Cory Adams No, it's not currently zoned multi-family.  But. . .  its next to (on one side) and across from commercial buildings.  And, there is a relatively new-built (4 unit) two doors down from my property.  There are a few multi-families that make a complex about half block down (same street).  And, the same thing about a block or two over (diff street).  So, I may have a chance of getting it approved.  I'm going to look into it in the next few days.  

A strategy might be a partial year lease since I'd want to get it on a Spring re-lease rotation anyway. And, that would give me enough time to work on the re-zoning.  

Thanks.

Thanks,

@Craig Curelop

All good points and a good plan of action.  It's hard to not to be tempted to cash out and/or leverage the equity.  But, with all the 'non-BP podcast' chatter about what is coming with automation and the weakening of the dollar (no idea if I believe or not, just like to be informed) - holding wealth in hard assets seems prudent.  

Hello,

I've tried to decide, but am struggling.  

Any input welcome.

Should I sell or keep my primary home?  

Spouse was transferred about an hour away.  Closing on a home there in a few weeks.

• Owe 18,000 + 6,000 HELOC. SFH. Roof and mechanicals 9 years old. New siding 5 years ago. Been here 9 yrs.
• Listing this weekend if selling.  Can probably get 105-115,000.  Not sure if we've waited too late in the year - we'll see.  
• Payment 215 mo + $100/mo insurance and $60/mo taxes.  Taxes will at least double when exemptions fall off.  Assessed low after I petitioned some time ago.  
• Could rent for about 800-900, as is.  Talked to spouse about converting to duplex.  Wasn't a fan.  I still like the idea.  Could probably get $550-600 a side that way for $7-$8,000 in renovations (add bath and kitchen, convert room).  Not sure about splitting utilities.  

THE HESITANCY

• New, big, high end multi-unit development being built about 2 miles away due to housing shortage.  (Prob not competing for same renters initially.  I think they'll eventually have problems keeping them filled).
• Very low unemploment until the economy crashes.  Then, remarkably high unemployment due to same industry-dependent local economy.  It got ugly here with the last crash.
• Vacant daycare very close next door.  Been for sale for years - maintained fine.  But, it's an uncontrolled variable.  Mix of commercial and residential street, which we like.  Not many real 'neighbors'.  

Thought about cash-out refi before I have a small gap in employment.  Before we move.  But, not sure the numbers would make sense, anymore, with the subsequent payment.  

Thank you in advance for any ideas!