Investment Real Estate topics throughout California and sometimes further! Mario Pinedo has been a Realtor since 1991 in Silicon Valley and has sold throughout California and the West. His primary investment vehicle is multi-family rental properties. Mario focuses on major markets from San Diego, Orange County, Los Angeles, San Jose, San Francisco and northern California. He currently lives in Irvine, CA.
Sunday, October 28, 2007
Trading Up or Downsizing - Strategies
I was having a conversation with a buyer today who owned a condo and wanted to trade up to a larger house. The difficulty was she needed to sell her condo first to buy the new home. Then of course she would have a very short window to buy a new home. This probably reduces her chances of finding a good deal or the perfect home. What's the solution? She can refinance out the downpayment of her condo, buy the new home and then sell the condo. She can also rent the condo after buying the house. Finally, she can buy the house as a rental for a while and then move into the house in a few years when her income will better support it. There are always good solutions if you do some brainstorming.
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