“I feel I have been able to get a great price on a 2nd home recently. It was the one I wanted in the neighborhood I wanted.”
“I was surprised to able to rent it for more than I could get by putting my money in other fixed income instruments. I was expecting only $3400/mo but got $3800/mo.. I’m sure others will be able to do the same as more and more people are being forced into the rental market.”
Hi Felix, if you were able to buy a house, rent it out, and get a better return than you would on a fixed income instrument, then you did very well. If you don’t mind sharing, I think a lot of people would be interested in learning more details about your purchase.
The basic questions are: How much did the house cost? How much is insurance? Mello-roos? If you took out a loan, was it a HELOC (where you could deduct the interest payments)? Is this house in California?
With this information, people here can work out the numbers for themselves. If it does work out favorably, I’m sure it will generate a lot of interest. Thanks!
