thoughts on buying in northern CA condo vs house and renting it out? or wait a couple more months?

What will happen in 2030?

Nothing. Lol absolutely nothing. Communists think they can just destroy a free market.



I would stay out of California. Invest in a red state. The last thing you want is squatters or someone trying to sue you over something ridiculous. Even just a standard eviction would take too long in CA.

Is this a threat?

I think you’re realistically looking at a 20% bump in valuations, (especially mid tier houses) in the next 18 months as 30 year fixed drops a 4 handle

Agreed. 20% is huge haha let’s gooo!!!

6.5 is temporary just get it now and refinance to a shorter term at a lower rate in a few months. same payment but you pay off equity sooner with your rental income. I'd personally only aim for a small marigin of gain above their payment into equities to just pay off utility usage and potential fix ups.

Especially if we consider that buying now is aiming for higher equity increase that you could later cash-out on to get more properties.

This post was edited by Ryvulet on Nov 30 2024 06:26pm

What is a good way to pursue a second home in the US when you currently have equity built up in a primary single family home but not significant cash on hand for 20% down? Another pool of money could be 401k loan or early payment for down gap?

Been trying to figure how to best obtain a second property that would become primary residence while converting existing primary to rental instead of selling.




Another option similar to above is to build the second home. Think it would mean lot loan, the. construction loan, then final mortgage. This one is appealing because the inventory is garbage up here until around $400k. Think I could build comparable for near $270k-$300k if majority DIY and limited contractor help.


Anyways, I'm not sure how to approach financing. I've had cash down in the past to placate mortgage, but most my net value in equity and retirement accounts. Both myself and wife hold good jobs.

In my market Single family Vs condo in terms of short term rental isn't a huge difference - most of your $$ comes from occupancy / location.

When I hear you make mention of new primary for the home, From my experience and homes I've pursued... With primary you can put less than 20% down... I was able to do as low as 5% on a conventional loan for a new 'primary'
There is no one size fits all loan, I have a guy that outlines every possible scenario for my buyers and they decide what suits them best.