[Coronita]

https://www.neighborhoodscout.com/ca/lemon-grove/crime

I’m sure some people would say it’s fine. I think I would pass. I don’t think I would want to try to get 8% returns if it also significantly increases my chances of getting shot.

[Coronita]

owning.com 15 year is what I had before at 2.5…. The 30 year though…wow…. 2.75

[Coronita]

[quote=spdrun]Since the US (outside of NY and a few other states) can’t seem to handle basic fucking precautions like wearing masks, the cynic in me says maybe it’s best to let it go, infect and kill where it may, burn out, so we can return to normal standards of healthcare. I can understand not liking full lockdowns, but I feel like the anti-mask, anti-science crowd has made its bed. Let them lie in it with a bucket full of bedbugs.

We in the NY area should just institute hard border controls to keep ‘zonies from coming in.[/quote]

Glad that you survived covid in NYC, because for a moment you went dark and thought something bad happened… I’m sure it must have been a terrifying ordeal being in an epicenter watching lots of people die and to think you could catch it and die from it. I would havee been scared straight.But I guess now that NYC is getting better, and no longer the epicenter, you don’t need to worry and stress about it anymore and you can resume the normalcy…in wishing others elsewhere die. Some people will never learn even after a brush with death 🙁

[Coronita]

Last time I refinanced, they required me to complete my taxes or at least proof of my estimated tax payments.

As far as being a god’s gift to lenders, I wasn’t suggesting that. But I’m as boring as they come when it’s comes to a borrower….Verifiable W2 income, credit score OK, $500k would be around 40% LTV, and my HELOC I think I will close, since I no longer need an emergency loan fund since I have sufficient emergency cash. I don’t think I’ve ever been turned down for a loan, but to your point, knock on wood, there’s a first time for everything.

But again, the only way I would want to do this if I could write off the mortgage interest, both before I need to use the money and after the money is used for an actual rental purpose. Can anyone comment on the deductibility of the mortgage interest if that $500k isn’t initially used for a rental property purchase?

[Coronita]

It’s been awhile since I had a a mortgage but perhaps someone can refresh me on IRS rules regarding investment interest expense…..

Hypothetically speaking, if I do a cash out refinance on my primary, say $500k,and the purpose of that $500k is to buy an investment property, I believe the mortgage interest would investment interest expense that I could deduct against the new rental. However, let’s say I don’t buy a property for 1 year. Could I deduct the mortgage interest as an investment expense too, if I simply stick the money into a money market fund? I think the answer is yes, but just wanted to check.

I don’t think I would have a problem qualifying, except I would need to finish my 2019 taxes this weekend 🙁 My one day/week furlough ends when the federal benefit ends this month , and for practical purposes I ended up making more money by not working that day than having to go back and work that day. I’m running out of government cheese so I think my next move would be to try to get some of the cheese from banks….It’s all fun and games until someone gets their eye poked out …lol

[Coronita]

The environment we are in is almost a perfect storm for getting taken out. Social unrest, economic unrest, chaotic government.

I don’t see us finding a vaccine. I think this is probably a Darwin selection process in the making….

I keep saying, take care of yourself and your loved ones. Nothing is really that serious and no amount of money will help if you’re dead.

We just got to survive the rest of 2020… that’s it.

[Coronita]

Things are bad in Florida right now. My company is headquartered there, we are a small company, and each day, there is a email that goes about about someone taking medical leave due to covid. The latest was a PM that got infected, along with 20 family/relative members, I think because they decided to do a summer get together, and one person was infected and asymptotic

[Coronita]

[quote=pinkflamingo]

I know I really shouldn’t do this after years of paying off my properties. But its really tempting to do cash out refi on some of them and buy more, or at least put the money off to the sideline until better deals come.

I am wondering if anyone is considering getting a heloc as oppose to a cashout refi. I don’t know if the heloc payments are much higher …[/quote]

I have a HELOC for emergencies but it currently sits at prime minus 0.25%

[Coronita]

I know I really shouldn’t do this after years of paying off my properties. But its really tempting to do cash out refi on some of them and buy more, or at least put the money off to the sideline until better deals come.

[Coronita]

I’m bummed about the closing of Casa Sol Y Mar. In not surprised but we use to go to it all the time.

Also bummed about the closing of the Firestone shop in Mira Mesa

Really bummed about the closure of Boomers in Clairemont.

[Coronita]

[quote=sdrealtor]I know it does and pretty sure I can think of one locally. Didnt they tear down the Sears at UTC to replace it with multi family units? Generally speaking downzoning from commercial to residential seems to be much easier than upzoning from residential to commercial. But not my expertise and would defer to someone with more knowledge on that than I

I owe everyone an update on the home page. ran the data yesterday but need to do the write up now.[/quote]

What??? Is that what’s going in place of Sears?

[Coronita]

[quote=barnaby33]How often does re-zoning even occur?
Josh[/quote]

Good question. Like I said, I have no idea and was hoping someone who would know could jump in.n

[Coronita]

Call me a optimist, but I was hoping if commercial RE has a problem, than perhaps there would be effort to relax zoning rules such that some of the commercial RE owners end up tearing down or redoing some of those commercial RE and making them residential housing of some sort.

[Coronita]

Do you guys stockpile the ETF representing gold are raw bullion?

[Coronita]

[quote=Rich Toscano]The real issue IMO is that RE just isn’t interesting any more. It was interesting during the bubble, and then during the crash. Now, it’s boring. It’s been the same story for years now (prices high but rates low, etc etc).

Even the global pandemic and financial panic didn’t really move the dial on the local market, as sdr pointed out with his realtime updates.

Real estate is boring now! And that’s why people don’t discuss it much.

Brian was annoying, but he wasn’t the cause of that imo… he was just filling a void. The problem was that he was doing so in a very self-righteous, partisan, and inconsiderate manner.[/quote]

I would be interested in learning about the trend(s) of commercial real estate. I think that is one area that could be incredibly interesting. I just don’t understand it.

[Author]

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