Why hold on to the condo? Why not sell it and collect interest on the proceeds? I bet you can get that same condo in 5 years for half the price. On top of that, you’ll have 5% annual interest, or an additional 25% of the proceeds. Wow!
If you hold on, you may break even on the cash flow and own a property at half of today’s price. You’ll also be saddled with all the repair bills.
Can you rent a condo downtown? I bet the rental supply in downtown SD will increase in the next few years. What a fabulous way to get to know the area and in which building you’d eventually like to make a purchase.
