Hi Guys, my friend bought a 1960 built 4 bed/2 bath: 1400 sq ft/6000 sq ft lot - SFH in Brea for 605k. There is no HOA/no mello and he sneaked in a 3.5 Interest Rate last Oct 2016. I visited his house and other than the backyard and front parking space, was not really impressed by the home itself. Tiny bedrooms as you can expect in 1400 sq ft space.
When i was in the market for an investment + primary residence property, i never looked at Brea, some analysis shows me that Brea only has 23% rentals, where-as irvine where i bought has 50% rentals, but now i am loosing $5k/year minimum due to HIGH HOA and Mello Roos of Irvine.
Is there anyone in similar situation like me? What options would you suggest? If i can sell mine for a laughable profit of 10-15k after expenses, then what should i buy?
When i was in the market for an investment + primary residence property, i never looked at Brea, some analysis shows me that Brea only has 23% rentals, where-as irvine where i bought has 50% rentals, but now i am loosing $5k/year minimum due to HIGH HOA and Mello Roos of Irvine.
Is there anyone in similar situation like me? What options would you suggest? If i can sell mine for a laughable profit of 10-15k after expenses, then what should i buy?