[quote=dumbrenter]
Congratulations. Are the rent estimates you mention i.e. $1.2k > mortgage on a per year basis?[/quote]
Per month. But I mis-calculate for about $100. So it should be $1.1K and $600 respectively (hey, it’s Temecula! And I bought almost at rock bottom four years ago.) I refinanced in between so the clock restarted…but the monthly payment is much lower as well as the rate.
I will probably price $100-$200 lower than the zillow estimates and there is vacancy. Plus I am really not handy. And I haven’t factor in any additional costs. I am sure insurance will be higher as rental property. And I probably also need some good umbrella insurance coverage. So in the end, I don’t expect too much would be left…with chance of negative cash flow at the beginning. But rents will for sure keep rising in the long run. I hope it can help me to pay part of my daughters’ college in the future …and that’s why it is strategically important to me as long as I can hang on with all the headaches of being a landlord.
