Hi group, as per my other posts, I have a minor situation and could use some other ideas.
I sold a condo and have 35k (actually more) to invest, I own another condo which is under a Contract for Deed at 8% but I have a 26k loan at 7% I live in LA. Ca. and could buy a starter condo in Long Beach for 125k with 25% down monthly nut of 950 all inclusive except cable tv and electric.
Wondering if you would pay off the loan and earn 355 a month or buy the condo or rent an apt. and invest in the market (etf) or try to save more to buy a better place. The condo is in a good part of Long Beach but I'm more on the West side (in case you don't live in LA.)
West side is much better than Long Beach!
I'm 45 and and freelance photographer, also taking care of my mom who has Parkinson's so that ties into this mess as well and she is in the West Side LB. is 20 miles south.
Thanks everyone, my friend thinks I should rent and invest because once my mom passes I may want to relocate or do something else. I was leaning towards buying because it's been 10 years since prices have been about this low.
But maybe, I'm off base.... I have about 95k in retirement and finally the condo in Texas is worth about 45-50k
I sold a condo and have 35k (actually more) to invest, I own another condo which is under a Contract for Deed at 8% but I have a 26k loan at 7% I live in LA. Ca. and could buy a starter condo in Long Beach for 125k with 25% down monthly nut of 950 all inclusive except cable tv and electric.
Wondering if you would pay off the loan and earn 355 a month or buy the condo or rent an apt. and invest in the market (etf) or try to save more to buy a better place. The condo is in a good part of Long Beach but I'm more on the West side (in case you don't live in LA.)
West side is much better than Long Beach!
I'm 45 and and freelance photographer, also taking care of my mom who has Parkinson's so that ties into this mess as well and she is in the West Side LB. is 20 miles south.
Thanks everyone, my friend thinks I should rent and invest because once my mom passes I may want to relocate or do something else. I was leaning towards buying because it's been 10 years since prices have been about this low.
But maybe, I'm off base.... I have about 95k in retirement and finally the condo in Texas is worth about 45-50k
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