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    Govt Shutdown Help - Cant Close on Our Home Real Estate

    January 09, 2019

    Govt Shutdown Help - Cant Close on Our Home Real Estate

    Govt Shutdown Help - Cant Close on Our Home

    Posted: 08 Jan 2019 09:20 AM PST

    Long story short, we are selling our condo to buy a house. Offers already accepted across the board. Suppose to close tomorrow and move in the 11th. The lady buying our condo cannot have her loan funds dispursed to us until they verify our condo is FHA approved. Aparrently condos have to renew as FHA approved every 2? years in WA state. Our condo management company said they sent in the renew form on Dec 1st and it was not processed before the gov shutdown and will not be processed until the government reopens. The guys house we are buying wants 2,000 for a 30 day extension. Our realtors said they dont know of anything we can do.

    anyone have any advice?

    Edit: we are giving 2000 towards closing costs the seller was originally going to pay. Also, our offer was contingent on us selling our condo in 20 days. In that 20 days we only had 2 offers, one for 13 thousand less than asking, and one for full price but FHA.

    submitted by /u/PlCALITO
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    Saw a house we love but seller's have smoked inside for years. Is there a feasible way to rid the house of this smell that will make the environment safe for our family?

    Posted: 08 Jan 2019 02:40 PM PST

    How easy/difficult is it to remove the smell of cigarette smoke from the interior of an home? We found a house that is
    a perfect fit for us (1950s ranch with hardwood floors throughout), updated electrical and plumbing, and so on. The problem is, as soon as your at the front porch you can smell cigarette smoke and once your inside it's enough to make your eyes water, and this was with the agents having opened all the windows with air filters going for a few hours before the showing. We have a newborn baby so I hightailed it after zipping through, but since everything else is in place on paper (right number of beds, baths, and sq ft for us) my agent seems to think the smoke smell is a non-issue and that some good paint will seal the smell, however the house looks like it was newly painted and it still smells like this. Since it's hardwood it's not like we have the option to remove carpet that could be retaining the smell, and all the blinds are wood shutters so no linen to be remove there.

    So is it possible to remove this smell without having to completely redo the drywall and floors? I don't feel comfortable proceeding because of this, but wondering if I'm missing an easy way to fix this?

    submitted by /u/le_bear_
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    Foundation company shared info with seller

    Posted: 08 Jan 2019 05:04 PM PST

    I have a foundation company I have used a number of times. I had the rep (owner of the company) come out to give me a quote on some work on a home I am considering buying. I asked him specifically not to share the information with the sellers. After we discussed, he then immediately turned around, went back in, and shared the information with the sellers. I believe he also told them I was in a construction related field, which I also did not want them to know. He said he had a responsibility to share his information with the sellers. I do not understand why he has any obligation to them.I am the one who requested the information and I am the one he has an ongoing relationship with. He will never see those people again. Am I wrong?

    ​

    Edit Post: This is not a structural engineer report.

    submitted by /u/SunshineAllDayLong
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    Asking realtor a few neighborhood questions....committed?

    Posted: 08 Jan 2019 09:01 PM PST

    I certainly don't want to give off the impression that I would waste a realtor's time or expect to not use them, but things like procurement cause, etc... freak me out.

    There's a town about 20 minutes away that we are considering a move to. There a bunch of neighborhoods and I'd like to chat with a realtor about what we like and get a few suggestions that we can explore on our own time until we get closer to making a decision.

    I don't know if we'd hit it off or not, but if I meet with someone and they provide some information, but no showings, etc....am I obligated to them at all if I decide to ultimately use someone else?

    I would be clear from the beginning that I'm not at the buying stage and am just trying tog eat some info to better research things on our own.

    Is there a better way to handle this?

    submitted by /u/Cuestick33
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    Should I remodel before I put my house for sale?

    Posted: 08 Jan 2019 08:25 PM PST

    Hey everyone and thanks in advance! If needed please PM me and I can share my address and any other information that may factor into this.

    Here's the details: 2bd 2.5 bath, 1450 sqft, 2 car garage, tri-level. One of the best locations in the neighborhood, corner unit at the very back so walking/driving traffic is very minimal. Townhome complex in Tarzana Ca. 50 units total. Bought house: June 2017 Price: 430k with 15k down FHA at 3.86% APR Built: 1981 Zestimate (if it means anything): 498k Most recent comps in complex: similar 2 bed with more recently remodeled kitchen ( ~5-10 years old ) otherwise nearly zero other upgrades and none of the stuff I have done sold - 485k, 3 bd 590k moderately upgraded, also 3 other 2 bedrooms between 440k-475k over the past 2 years. All 2 bedrooms have the same layout and sqft. Multiple complexes directly adjacent range in the range of 4-800k with houses on the next street over in the 1-2.5mil range.

    Everything in the house is original from 81 and is in literally amazing condition for its age. i.e. the original owner either never used the shower, oven, bathroom sink or was simply meticulous plus a magician when it comes to cleaning.

    Upgrades I've done: replaced all interior doors except front door, all interior lighting and fans, all outlets and plugs, fresh paint in neutral colors for whole house, ceilings and garage in July 2017, replaced all air vents, cleaned up massive overgrowth of random plants/shrubbery on patio with roses. The goal was to start to modernize the aesthetics with the small stuff.

    Basically what this tells me is that any additional upgrades i.e. 15k for kitchen, 10k for bathrooms, 5k for miscellaneous would result in me needing to go well above the highest priced 2 bedroom sold so far just to RECOVER those costs. This is why I'm questioning it, as I feel low cost high value improvements are generally a good ides. However, assuming the current value is roughly 480k, then the sale price would need to be ~510k just to break even and more like 525k to possibly make it worth all the hassle. Even then it might not be worth it.

    Again, thanks again in advance for your advice and for reading the book of a post!

    submitted by /u/cschultz1272
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    Is it worth to buy a house with a foundation problem?

    Posted: 08 Jan 2019 07:59 PM PST

    We want to buy a house and we found the perfect (almost) home. It felt like home when we saw it, it is beautiful.

    But on the foundation inspection (from 8 months ago), on the relative floor elevation survey it says there is a 3.5 inches difference over the length of the house (we can't really feel it walking through the house).

    How easy is it to fix this? House is 30 years old, on concrete slab foundation. We will get another inspection and someone to estimate the cost, but I was wondering if it is too hard to fix it. Should we should just move on?

    submitted by /u/saltyricecrackers
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    Recent Real Estate hire. Wasn't sure if this if the right place to ask questions.

    Posted: 09 Jan 2019 01:19 AM PST

    Hi recent college graduate. Was offered a new job as a Corporate Real Estate Manager for a large (8000+ employee) logistics firm. Their portfolio is 70% logistics facilities and warehouses, 25% office buildings (10+ stories) and 5% dual function of both + multi-story parking garages.

    During college I worked as an assistant facility manager for 3 years in a small urban property management company. My portfolio there was three towers (12, 10 & 6 stories in downtown area) with 784 doors; where I oversaw daily maintenance operations, the leasing office staff, reviewed work orders, interacted with tenant complaints and collected rent/credited vendors. I also had the privilege of participating in the development of a 4th property where I helped the director and FM organize the project plans. There I was paid $15/hour. It was a stressful job but I learned a lot and it's what got me interested in this industry.

    ▪️ Question: what starting salary should I aim for? They asked me what my ideal compensation is and I'm not sure how much to ask for. I saw that the average in my area (north east USA) was around $140k. Although I'm sure that is for professionals with many years of experience. I was thinking maybe asking for $70k and negotiating it down to $65k? After auto loan, student debt and rent this leaves me with about $15k surplus depending on how fast I want to pay it off. Is this too much/little? Or should I be asking for something closer to the regional average? *Keep in mind 0 experience in CRE and logistics.

    ▪️Also was wondering for veteran professionals: What's the job like? What is a day on the job like? Lots of traveling? Is the stress level bad? (Level 1 = snooze worthy | Level 5 = shtf every five coffees worthy) And what skills should I improve on before I start?

    Any resources would be really helpful as well.

    I know it's a lot but if you could help I would genuinely be greatful plus upvotes all around! Thank you ahead of time! 👷🏻‍♂️👍

    • Michael
    submitted by /u/NJ2A_PPE
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    How long should your home remain on the MLS after deciding to not sell?

    Posted: 08 Jan 2019 05:51 PM PST

    How long is your house supposed to remain on the MLS if you pull the plug and decide not to sell?

    ..I've got a now douchey realtor/broker whom I notified 1 week ago today verbally that I'm pulling the plug, not selling and we're done. I was buying a new build, but it wasn't up to snuff, so I signed their cancellation document, lost my earnest money and officially finalized "the end" a week ago. This broker wasn't thrilled, since he lost both commissions.

    And He insisted I pay him $500 for the 27 or so photos and I agreed, since I felt I owed him for those and his 3 weeks of effort. So I did, the check has cleared and I'm now out that as well. Am I wrong for doing this?

    Also, he still hasn't removed the lock box, so this afternoon I removed it for him (took off the door knob, then pulled it for him and have it hostage in my house), and I have re-keyed all my locks last week, the day I advised him I'm done.

    Is there something I'm missing, am I wrong, or just gullible since this isn't my cup of tea, but I'm quite fed up and irritated.

    Lately, I've not had any contact or any written information, confirmation, etc from the broker-realtor-douche since last week. He claimed I had to leave it on to get my earnest money back, etc, which the builder told me was non-refundable last week when I called, advised them, and was told I had to sign their cancellation document, which has been done then.

    Thanks for any and all advice! ..Is it time for a lawyer? Can the douchey broker do anything else to damage me or my home?

    submitted by /u/makaroni21
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    ELI5 tax savings of paying mortgage interest.

    Posted: 08 Jan 2019 05:47 PM PST

    Anyone can do a simple calculation of the realistic tax savings on your earned income by paying your mortgage interest vs taking the standard deduction.

    submitted by /u/HabeshaATL
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    Is This Guy a SCAMMER?? Advice on Questions I Should Ask to Identify Legitimacy.

    Posted: 08 Jan 2019 01:07 PM PST

    I'm not sure if this belongs here, but I'd greatly appreciate any help you're willing on offering!

    To the point: I live in a nice suburb-type town 30-40 min from Los Angeles. The cheapest 1 bedroom apartment here is $1400. I've been looking for something to set goals towards in a nicer area. Those apartments start at $1700.

    That being said, a condo was listed yesterday at $745 /mo

    It's in the nice part of town where every properties range from $1700-2k+

    Obviously too good to be true, but I know some people rent out their condos when they live out of state at low rates just to have income on it in the meantime.

    I found the listing on Apartments.com and emailed the person asking a few preliminary questions...including if the listing price was an error. This was their reply:

    Hello,

    Thanks for your interest and inquiries about my Property. I am the owner of the Property you are making inquiry of. The Property is still available for rent and we are looking for a responsible person/family to occupy and maintain the Property. The property will be available for a period of 6 years or more. My Family and I just relocated to Boston, MA /USA for a program where my family and I are currently located.

    I'm in need of a good and responsible tenant that can move in into the property and take very good care and maintain it in my absence. We will be away for a while that is why we made up our mind to put it out for rent to whom ever that will take good care of it. i will solicit for your absolute maintenance of this property and want you to treat it as your own.

    GOOD AMENITIES ARE IN PLACE : Air Conditioning, Patio/Party Deck, Cable TV, Ceiling Fans, 24 hours Internet service, Dishwasher, Fireplace, Garbage Disposal, Microwave, security alarm, Pets Friendly, Refrigerator, Washer / Dryer. Utilities include Water,Trash,Sewer,Gas and Electricity.

    The money is not the main problem but to keep it tidy all the time so that i will be tall happy to see it okay when I returned so I will be counting on you.

    Bedroom : 1 Bathrooms : 1 Rent : $745 Security Deposit: $745

    SO IF YOU ARE REALLY INTERESTED I WILL WANT YOU TO FILL THE RENT APPLICATION FORM BELOW: RENT APPLICATION FORM.

    FIRST NAME:________________ MIDDLE NAME: ________________ LAST NAME: _________________ PROFESSION: ________________ (CELL)PHONE ()_________ (CELL)PHONE () _____________________ (WORK)PHONE () __________ YOUR EMAIL: ____________________________ KIDS _____ (YES/NO), HOW MANY _______ PRESENT ADDRESS: ____________________ CITY: ______________ STATE: _____________ ZIP CODE: _______________ HOW LONG? _________IF RENTING WHY ARE YOU LEAVING? IF THIS Home IS BEING GIVEN TO YOU, HOW LONG DO YOU INTEND STAYING?___________ WHEN DO YOU INTEND MOVING IN? ______________ MONTHLY INCOME: IF YOU HAVE A PET: NAME OF PET: _____________ KIND OF PETS: _____________ HABITS DO YOU SMOKE? ___________ DO YOU DRINK? ______________ DO YOU WORK LATE NIGHT?____ YOUR VALID I.D (IF ANY):could be attached with the application.

    Please feel free to ask any questions you do not understand and i will be looking forward to receiving your email ASAP. In case you see any Realtor in charge of my house don't bother to contact them why because I decided to take it over by my self. I am no more working with them, formerly i wanted to sell the property before my Family I decided to rent it out instead of selling it ,IN CASE WHEN WE RETURNED.

    Thanks for choosing my home and remain bless. Best Regards Landlord Andrew M_____.[remitted]

    Aside from the obvious here such as grammatical errors and the request of some very personal info, which I will NOT be giving, what questions should I ask to figure out if this dude is legit or not?

    I'm young and partially naive. Please help! Thank you

    EDIT: I reported the listing. Hopefully no one was gullible enough to actually send this guy money or their personal info. Assholes like this seriously are the worst. They prey on the weak. Thanks to everyone who replied!

    submitted by /u/Queen_of_Gondor
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    Realtor vs Broker

    Posted: 08 Jan 2019 04:30 PM PST

    I am a little overwhelmed with the difference between the terminologies: realtor vs broker.

    My understanding is that Realtor is a trademark of a real estate agent or something. Based on what I can get from google, a realtor/real estate agent has to work under a broker? So exactly, what is the difference? What are their licensing?

    Also, for real estate agents, is it worth becoming a Realtor? What are the advantages of becoming a Realtor?

    I have a Realtor and I think he works for a broker (like a larger firm). For example, I live in the East Bay in CA and although initially, I thought he owns his own business, I realized his broker firm is J Rockcliff? Is J Rockcliff the broker firm - is that the correct logic?

    Thanks.

    submitted by /u/pinkpencilbox
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    My mom sold her condo. It's in the title search process. Is there a way someone can interfere.

    Posted: 08 Jan 2019 10:06 PM PST

    My mom had to sell her condo or else it would be a foreclosure. So it's a small 1.1. condo. She has memory issues from small alzheimers and she drinks daily and is kind of ungrateful. Some asshole guy on the association who owns like 4 condos in this small (20 condo building) was speaking with her trying to manipulate her and my mom was in one of her dumb modes and talked to the guy. (Half the day she hates him and if she's at memory lack then it's like alright). Question is that, can that guy stop the sale or interfere? My mom signed the documents, met the realtor, spoke on the phone with the lawyer I found and told the lawyer she wants to retain her, I was emailed contracts and told my mom to sign them if she wants. She told me that she told that guy who wants to interfere (profit) that she never met anyone or spoke to anyone to sell the house. Then I had to remind her who that guy was and then she said "oh I dont want to sell to him". She was then again My mom signed everything and I feel like she is so ungrateful and I almost wished I never helped."

    Can that guy stop the sale?? The lawyer called me today and sent out the title search so whatever that means. Everything is signed. No one can get in touch with my mom she has a phone that she doesnt answer calls or texts.

    Can anyone interfere because I dont even want to help anymore. I was not getting anything out of it not a penny.

    submitted by /u/funnysmurf
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    1st home offer

    Posted: 08 Jan 2019 04:30 PM PST

    We made an offer on our first house, the house not yet listed. We offered above asking price, seller to pay closing and home warranty. They countered, no home warranty and we pay $2k towards closing. I feel like they're just Pushing back to see what they can get out of us. Do we just wait and let them list it? We were trying to purchase before they listed it to stay out of a multi offer situation, and simply because we were interested enough in it.

    submitted by /u/amberelladaisy
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    Condo in my building for sale. I know the sellers. Friend wants to buy it. Can friend skip real estate agent and buy directly from seller? Is it tacky (or illegal) of me to ask for sales commission (lower % than agent)? Pitfalls?

    Posted: 08 Jan 2019 03:48 PM PST

    Hi

    Hope this is the right place to ask this.

    Title says most of it. There's a condo in my building for sale. I know the sellers. My friend wants to buy it. Can my friend skip the real estate agent (Century 21) and offer to buy directly from the seller? Is it tacky (or illegal) of me to ask for sales commission (a lower percentage than the real estate agent would get) from the seller? Any legal or ethical pitfalls to watch out for here?

    Thanks

    submitted by /u/UsbyCJThape
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    Offer for a condo FSBO accepted - Buyer responsible to draft contract?

    Posted: 08 Jan 2019 07:27 PM PST

    My offer to buy a FSBO condo has been accepted and I am happy with the deal. I have already got approved for the loan and rate is locked for 60 days. Originally the sellers (70 year old couple) said they were going to get an agent for 1% commission to do the closing and they would pay the bill. I made the mistake of recommending them to skip the agent and just get a lawyer. As it turns out, now they want me to take care of the contract. Is this a normal practice? should we split the costs o the lawyer? and will the lawyer represent both?

    ​

    Thanks.

    submitted by /u/gbladr
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    Is it worth it to pursue RE as PT?

    Posted: 08 Jan 2019 07:02 PM PST

    I got laid off from my job and I've been considering going into RE for a while. I've been lurking here and everyone says that it's a FT job, or else you won't get anywhere.

    After reading up here and doing research, I've come to the conclusion that I really do want to do this, but I should hold off for now. I have a family, so I need to bring income ASAP and also I maybe only have 2-4 months of savings. I've been talking with a RE company and told them I would only be able to do PT because I need income immediately. Didn't tell them my exact situation. They still want me to come in to talk. Should I or am I just wasting my time? I know there are fees and school and probably a whole host of things I don't know about. Just want some feedback/reassurance, if it's best for me to hold off or if it's feisable starting out PT.

    Also, I eventually want to do this FT. Can I start doing things gradually? Or should I save the amount needed to get certified and do it all at once.

    Thanks in advance.

    submitted by /u/r6yamy
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    Is it worth it to stage our home? [CA]

    Posted: 08 Jan 2019 06:45 PM PST

    We are selling our house and getting it ready to go on the market in the next week or two. The home is vacant. The market has slowed in the neighborhood, but houses are still selling. There are a few on the market that are pretty comparable to ours, all smallish older cookie-cutter homes, but none are staged. We got a bid to stage the house, which was pretty expensive. That said, the money will come out of escrow, so it isn't an upfront cost to us. My agent isn't pushy either way, but has stated that she thinks the house will go quicker and that we can list for more (both good things). Is this true? Is it worth doing?

    submitted by /u/NoButMaybe
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    rooming house question

    Posted: 08 Jan 2019 06:41 PM PST

    Two real estate questions:

    1- Why are there so many rooming houses in the YorkU area for sale? Is the Toronto Fire Department cracking down on overcrowded and non-compliant houses?

    2- Must there be a second exit on every floor of a two-storey rooming house?

    submitted by /u/Frameworks8
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    Will my FHA loan close on time?

    Posted: 08 Jan 2019 06:32 PM PST

    We are in underwriting and I just saw something on TV that home loans are on hold... I cant get ahold of anybody this late, but I'm concerned. Im not really sure how things go behind the scenes.I have a closing date of 1/25 and have given my required 30 day notice at my current rental so I must be out by 2/1.

    submitted by /u/EricaATK
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    Buying My First Home Using a Va Home Loan

    Posted: 08 Jan 2019 02:39 PM PST

    Hello,

    I am just looking for peoples' advice on my situation. I make about 65k a year and I have two kids and a wife. My wife is a stay at home wife. We currently have 40k in a stock account, 230k an IRA, and about 10k in our retirement account and we're both in our late 30s. We have been renting. We just got approved for a VA home loan for 280k. We have no debt and own a single car and do not own credit cards. In my situation, how much is reasonable to borrow?

    Another issue we have is our realtor made a mistake when writing the offer. He accidentally wrote in a field that we were excluding Microwave, Refrigerator, and dishwasher in our offer. When I realized he made that mistake it's making me question the entire process. And maybe I should slow down. Am I being too harsh on the realtor? I don't want to fire him since he put so much time in but I cannot afford to make any mistakes. I'm just feeling really overwhelmed. I asked him not to put the offer in yet. Any help or guidance would be really appreciated.

    submitted by /u/boki345
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    Is it worth talking to multiple brokers or is it better to talk to more lenders?

    Posted: 08 Jan 2019 06:18 PM PST

    Agent has us meeting with 3 mortgage brokers but it seems like brokers have limited offerings and it might be better to compare to other lenders. Is it worth meeting with 3 separate brokers or is there not really much difference between brokers and I'd be better off with meeting more lenders? In terms of credit score, does it make a difference if a broker or a lender pulls our credit in terms of how FICO only counts those as a single pull in 14 day period?

    submitted by /u/postdochell
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    Estate Tax Return??

    Posted: 08 Jan 2019 06:14 PM PST

    This is a private sale between the seller and myself. I am using my own RE lawyer, title company, and mortgage broker.

    ​

    My title company came back with issues and won't insure. For one, the title has a bunch of judgments. Second, I'm buying it from the seller (obviously) who bought it from owner A, who purchased it from owner B. The issue is owner A purchased from owner B's estate after he passed. The title company is asking me to get with the seller and ask for the estate tax return from owner B to make sure the deed from owner A is valid.

    ​

    How would I go about getting a real estate tax return from someone who died in 2003 and I know nothing about besides their name? The dude I'm buying from is an older, old school dude who I know is gonna ask me for help with this.

    submitted by /u/Fourlec
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    6 Month Vacancy

    Posted: 08 Jan 2019 06:10 PM PST

    I own a duplex in a college town that also has very highly rated public secondary schools relative to all of the towns near us. I live in one half and rent the other half out. I purchased the property in Q3 2015 and the property was rented the entire time I owned it until this last summer for 1250/mo. This summer I had about a dozen showings, but only one person applied and they had a pet (I don't allow cats or dogs) so I declined.

    Since school started, I have not had a single application. I have 6 other buildings and since I don't plan to live here forever I decided to go ahead and transfer management to the company that manages all of the other properties I hold and see if they could do any better. I was also on the road a lot then. They have not had one showing in the 3 months they have had it.

    I have dropped the price from 1250 to 1100 at their request, and it is priced less than everything in my neighborhood, but still nothing.

    Does anyone have any tips?

    There has been an increase in student housing in my area, which would affect the broader market, but I'm not really targeting that demo. My previous renters were a family with kids looking for the great public school system, and that was the same demo of almost everyone who viewed my place this summer. That demo can't live in all the new stuff—though the new stuff can cause other openings elsewhere, I get that.

    I would like to not kill the value by dropping any lower in case I ever need to exit the property. I would also love to have the monthly cash flow. I am obviously not dying without it, but I would really appreciate anything that anyone might be able to think of that I am overlooking.

    Thanks.

    submitted by /u/DoppyMcGee
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    Highly-appreciated rental SFH in VHCOL, considering 1031. Help!

    Posted: 08 Jan 2019 06:09 PM PST

    Hi, throwaway account for this question.

    Backstory: >20y ago bought a SFH in the West Los Angeles CA area - fixed it up, paid $250K, put another ~$75K in improvements, moved away from the area 15 years ago and rented it out over that time. Fully paid for, mortgage retired about 10y ago.

    Job brings me back to SoCal, San Diego specifically. Tempted to sell the LA house (value about $1.5M - no that's not a typo), it's fully paid-for, and buy a 'future dream house' in SD for $2M as a 1031 (and borrow the $500K), rent it out for a few years. Looking at rents in the SD area could easily get $6K/mo if not more.

    But Prop 13 gives me pause: the RE taxes I pay on the LA place is around $4.4K/year, while 1.25% of $2M is $25K/year, or about $2100/mo. That's $1716/mo more than what I am paying now in carrying costs, and that's a big number.

    Household income is over $200K, credit >800, selling existing house on the East Coast will yield about $350K in equity.

    Scenario 1: Sell the rental SFH for $1.5M, borrow $500K, pay P+I+T of $4,692 and suck it up. Rent it out for 2y at $6K, make $1300/mo of income, and do whatever with the $350K in equity, even perhaps buying a second (small) townhouse or something suitable as a rental, or just rent and hang onto the equity.

    Scenario 2: Keep the rental SFH and let it ride. Fully paid for, low Prop 13 taxes, was getting below market rent at $3500/mo but get market rent at $4500 or so. Sit pretty. Use $350K in equity, and get a huge mortgage - with 20% down, that'll be a $1.4M jumbo loan. $1.75M house isn't a $2M house but we could make it do. Still $21,875 in taxes yearly, P+I+T (assuming 4.75% jumbo rate, same as above non-owner occupied rate) is a breath-taking $9,126/mo. Yes the $4500 offsets that nut but still.

    Question for everyone: is there a third option? Somehow put the equity in the LA SFH to work in another way (?)

    Many thanks in advance for any input.

    submitted by /u/AccidentalCali
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