Okay, scaredy, I’m getting the feeling you are thinking too much and paralyzing yourself. I feel your frustration and am not even that familiar with all the nuances of North County but will give this a shot.
My advice: endeavor to invest in SD County as opposed to RIV. I think you will find it to be a more worthwhile investment in that it will keep its value better in the future.
If you are not very handy and/or are too busy with work, than you should probably just stick with a cosmetic fixer and not a “shell” of a house as the “flipper” numbers won’t work in this market unless you are a licensed contractor yourself with a variety of expensive tools and heavy equipment at your disposal and the know-how and/or labor pool to use them. Even then, it’s a crapshoot whether they will make any $$ in the end.
I think you have a great rent, BUT . . . the current interest rates are lower than I’ve ever seen in my life!
Don’t be afraid to take out a small purchase $$ loan of $150K to $200K. You’ll be okay. I’m a single mom who owes over $200K and am only a paralegal and I’m okay. Scaredy, now . . . take a deep breath. I can understand why your spouse wants the PRIVACY. Please keep an open mind and consider these properties for immediate move-in or cosmetic fixers.
