Livin La Vida Loca

We are keeping it real, living in the Mission this week on our quest to try out different neighborhoods before we buy. We rented our apartment in Nob Hill to a nice British gentleman who is in SF for work. Last time we tried the Potrero neighborhood, which we loved. This time, we opted for the Mission. We are a block away from the hospital on the corner of Hampshire and 23rd. I have to admit, I didn’t have very high expectations, but I am really loving it here. Sure this ‘hood is a bit grittier, but it’s got character. I haven’t felt unsafe. Lots of people always on the bus and walking around. I feel like I’m living in Mexico City!

The 9L bus whisks me to and from work so quickly, I’ve been shocked. This is my first experience dealing with a timely Muni bus! Can’t beat that!!

The apartment we’re staying in is small, but lovely and fine for us which makes me think we really don’t need a lot of space. Dean and I are so low maintenance. If the 2 of us can live in this treehouse for a week, then a reasonably-priced, minimalist home should be enough. We always joke that people buy big homes purely to put more shit in it.

What’s great about the couple renting to us is that they are doing exactly what I aspire to do. They own a 2-unit building, live upstairs, and rent the downstairs unit. The rent for the downstairs unit covers their mortgage. Score! In addition to the 2-unit building, they pounced on this tiny loft next door which they had used for family and friends visiting from out of town. Now that Airbnb has blown up, they’ve been renting it out to RAVE reviews. The rental is inexpensive. It’s nice and clean. And they’re the nicest hosts ever. So they’ve got a great little side business going.

 

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Fashion Friday: Get Rid of Your Clothes

I am on a never-ending mission to purge my clothes. Sometimes I wish I could start fresh and buy a whole new wardrobe.

There was an executive at one of my old companies who had the following regimen. Every year, he’d donate all his clothes, then buy 5 new shirts and 5 pants. Those were the clothes he wore every single day of the week. Simple. I really admired that, but I don’t think that’s something you can do as a woman. He was also an ex-Army guy which explained his penchant for order.

For me, clothing is all about fit. It’s not about what’s trendy or in the latest fashion blogs. I try not to pay too much attention to that stuff, although I can get pretty sucked in. I’ve had a gray sheath dress I purchased at a shopping mall in Bangkok 10+ years ago. It fits perfectly and is a staple in my closet. If something happened to it, I would seriously break down in tears. No other dress in my closet fits me better. Most everything else is too loose or too tight, which is why I’m always in search of fit. If it fits great, it means you look great, and it’s a forever piece.

Which brings me to the point of this post. Sell your clothes, make money, buy clothes that fit. Go to a location that has a bunch of second hand stores. I went to the Haight. I had 2 shopping bags full of clothes to sell. I started at the Wasteland, then to Buffalo Exchange, and finally to Crossroads. Each store bought a handful of stuff and in total, I made over $150. By the time I was done, I had sold a shopping bag full of clothes at 3 stores. The rest I’ll hand over to my mom who ships them to relatives in the Philippines.

Chasing the Low Refi Rates

I am trying to refi my place. My last refi was unsuccessful because the appraisal was low which put me underwater, which was upsetting because I don’t believe the comps supported such a poor price. So I am at it again. An appraiser came today and I’m very curious what his thoughts are. As a serial refinancer, my appraisals have spanned $400k through $600k. I swear if this doesn’t go through I’m going to sell my place and wouldn’t be surprised if I pulled in $550k which is $100k over what I paid for it. I’ve locked in a 3.5% rate for 20 years.

I constantly go back and forth on whether or not to sell my place.

I always think that if I hold on for 20 years when it’s completely paid off that we’ll get an extra $1,500 / month which is net of property taxes, HOAs, utilities, bills, maintenance, etc. What a nice extra cushion for us to retire on. But holding on means being a landlord which takes time, and time is money! Also I seem to clash with the owners on how to spend our reserves. I think we need to have our backyard completely landscaped, but at least one of the other owners disagrees. It is such an eyesore, no one wants to spend time back there, yet it has so much potential. Sigh.

And if I sell? Freedom! And a big chunk of cash back in our pockets.

I’m very confused.

Check out this graphic from my real estate agent. SF condo prices. Can I say…BUBBLE!

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