No we did not win the lottery. In fact, we will be in the red by going into debt by close to a million dollars. That’s a lot of zeros! You do not retire at the age of 55 by taking on that much debt! This is a slap in the face to my financial conscience.
But then again this is San Francisco real estate where 1 bedroom shit-holes are going for $3,000+. Hence you go against the grain of your morale budgetary fiber and say, let’s get ready to rumble!
I’m excited to report that we have fallen in love with a single family home in Bernal Heights that we are prepared to put an offer on. But wait, there’s more! Included on the property is a separate, detached studio apartment. That’s the only reason we would be able to afford the home. Half our mortgage would be paid for by the studio. The previous tenant paid $2,000/month. Rents are going for more right now on Craigslist for this neighborhood. And Airbnb rates are going for $125+/night for Bernal Heights. It’ll be our little cash cow. Moooo!
614-618 Eugenia Street, SF – listed for $975,000 – 2 bedroom, 2 bath, 1 car parking single family home including an upstairs attic area and another downstairs area with 2 additional bedrooms + separate detached studio