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What would you choose

TheRealDeal

By TheRealDeal,
in Huddle Lounge

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TheRealDeal Newbie

TheRealDeal

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Has the market turned in San Diego? I know its one of the more price sensitive cities. What the rental market like?

My Fiance and I are buying a house here because the rental market is ridiculous and we could own a house for less than we could rent.

Rent on the beach for 1-2 years save up then buy? Not an option?

Renting on the beach is nearly impossible since they are all vacation rentals. For a two bed apartment, it's about 1500/month which is similar to a mortgage on a 300k house.

The things that are selling in SD are the expensive houses, which is also why were leaning that way, easier to sell in a year or two if we want.

Yeah, it's not really the time spent together that would worry me... AND you may have a great relationship NOW, but after living together, even for short periods of time, that can change.

The financial obligations are what has the potential to create the most problems.

We've had extensive talks about all the options. Their main goal is to set us up for the future. They are willing to do any of the options. They will write us a check tomorrow if we wanted or they would live with us and take care of most everything so we can save. It's really our choice in what path to take. I'm not worried about the money as much.

If all else fails and we get nothing out of it, at least I got to live in a nice house for a couple years and save some money. Best case scenario, it flips and we make a nice profit and move on all the while saving money.

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Zcustom Newbie

Zcustom

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any scenario involving someone other than me making my mortgage/rent payment is a no go for me. So what if it's not the best neighborhood?

the housing market is fantastic here for buyers, why not move to the city your favorite NFL team calls home?

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teeray Rookie

teeray

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If you guys want to get into real estate investing buy your own home to live in, form an LLC with your in-law, and start buying other houses through your LLC to rehab. Don't try to do it as a joint venture on the house you are living in.

Don't do it with your own house unless you are paying for it yourself. Just my opinion.

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TheRealDeal Newbie

TheRealDeal

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any scenario involving someone other than me making my mortgage/rent payment is a no go for me. So what if it's not the best neighborhood?

the housing market is fantastic here for buyers, why not move to the city your favorite NFL team calls home?

My jobs aren't there.

If you guys want to get into real estate investing buy your own home to live in, form an LLC with your in-law, and start buying other houses through your LLC to rehab. Don't try to do it as a joint venture on the house you are living in.

Don't do it with your own house unless you are paying for it yourself. Just my opinion.

Selling it and making money is only the goal on Option 2. Options 1 and 3 would be permanent residences for the foreseeable future.

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