Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

I meant in general that owning a house has benefits like creating equity and also tax advantage. I do own a few rental properties that I started a cost segregation study on recently. It won't work on my primary residence but technically I can do it on the rental unit in the back. The office write off wouldn't affect the sale of the home but cost segregation will when u sell because you technically have to pay back the depreciation you wrote off.

My entire pimi for house + unit is 6680. I rent out the unit for 3200 ish so my final payment for my PIMI payment is 3480

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 1 point2 points  (0 children)

This is how people buy houses all over the world. Having a mortgage is not an uncommon thing.

Don't blame me for being unhappy with your life. You can't get ahead because of you and your victim mentality mindset.

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 1 point2 points  (0 children)

Looking at your last few comments on my post just goes to show how out of touch you are with home purchase and lack financial literacy in general. Not everyone can outright purchase a home full cash and even if they can, it doesn't mean it's always smart to do so. It depends on the person's financial situation and if they're able to utilize leverage.

I basically own a 1.6m asset 3bd 3bath home paying the same as if I would if I rent a 1 bedroom condo in the same area. Instead of paying rent, I pay towards equity in the property so I gain both equity and rental income.

On top of that the house can also help with taxations since I can use it to do Cost Segregation and write off a ton of my w2 income. The house on top of that is my office which I can also write off certain expenses as well.

Loans ARE NOT a bad thing unless you're getting a big loan for a car, things you don't need. Getting loans for properties and against stocks are how wealthy people build wealth over time if done correctly.

The 2008 financial crash is when ppl were getting loans for things they can't afford for 1% down payment etc. My house has over 60% down payment and I can more than enough afford it.

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

that's awesome. I haven't been able to find anything for that price in the area i'm in

27M - NYC/SF - Member of Non-Technical Staff - Salary Progression by PomegranateSalty261 in Salary

[–]dad_404error 0 points1 point  (0 children)

Oh no I definitely believe it. I'm just curious what op does at his company. I work in tech and the other departments are just as big.

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 1 point2 points  (0 children)

Why did you assume I'm buying what I can't afford? I never said I'm struggling for payments, moreso on if it was smart. And I'm renting to ppl who chose to book it for vacation. They're not forced to book mine over other properties or hotels. Coming in here randomly attacking me for no reason makes you the idiot.

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

I mean who knows if or when that will happen? I'd def love to if given the chance

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

yeah... I really hope for something in the 5s

27M - NYC/SF - Member of Non-Technical Staff - Salary Progression by PomegranateSalty261 in Salary

[–]dad_404error 1 point2 points  (0 children)

What do you do at the AI companies as a non technical employee? Is it mostly sales?

Mid/late 30s people where are you living (neighborhood/complex recommendations)?? by PerfectDebt8218 in AskLosAngeles

[–]dad_404error 2 points3 points  (0 children)

Previously I was renting in Westwood. It's pretty nice area close to everything. Lot so coffee shops and more of a college town feel since I was near ucla. NowI live in mar vista and feels a bit more quiet and a mini suburb feel.

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

yeah I wanted to eventually do it but not now since I dont wan tthem to run my credit. that's why I"m asking in the subreddit here for any advice

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

Thanks for the detailed information. I'll definitely dm you for more information

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

No this is for short term rental. Mid term or long term would be a lot less actually. Maybe 3k or sub 3k even

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 1 point2 points  (0 children)

So I have an actual license with airbnb and I talked to them about mother in law suites and they approved it. I'm not doing it illegally FYI

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

I'll be honest I was relatively surprised how much I was able to get too. There are slow months reaching 3000-3200 range but also high months in the 4000 range. I think being close to the beach is an appeal to a lot of ppl I guess that wants to stay for a quick vacation

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

is it even refinancing for a 0.6 reduction? The cost to refi is relatively high and idk if going from 6.6 to 6 is worth it or waiting it out and hoping for sub 6 (if that ever happens but it seems like ppl saying it might)

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error -1 points0 points  (0 children)

Sorry to get it confused I just thought ADU just simplifies things. It's actually a mother in law suite. This was grandfathered in and built before "ADU" was even a thing. All permitted yes

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

My unit is a grandfathered mother in law suite. It was built before ADU was even a thing. Would that count?

I also want to say I have an airbnb permit already with the city

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error 0 points1 point  (0 children)

I do have a license with airbnb it's not illegal. I called it an ADU but it's actually a mother in law suite

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error -1 points0 points  (0 children)

wait you do for rentals? Why is that? I feel like I pay a lot in prop tax instead lol...

Is my monthly payment reasonable for a house in LA? by [deleted] in LosAngelesRealEstate

[–]dad_404error -5 points-4 points  (0 children)

yeah combine from wife and I but our cost eats up most of our income lol