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Financial Advice: How can I rent out my house and move into a smaller place?
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2018 May 26, 11:11am 9,555 views 46 comments
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NuttBoxer
2018 Jul 19, 12:00pm
NuttBoxer
2018 Jul 19, 12:00pm
Doesn't look like anyone has mentioned it yet, but being a landlord is no picnic, especially in California where tenants have all the leverage, and you have almost none. Your $2,000 income is potential, only realized once you have a good renter(not easy to find), who is not going anywhere. It could take you multiple tenants to find that person, and what you get along the way could eat up a vast chunk of your time, and your potential profits.
As others have already mentioned, you are looking at a topping market. Invest elsewhere, save, pay off your debt, and wait for the crash to get that smaller place.
I'm actually contemplating moving to an RV fulltime, not sure how the parks are up there, but that could be an alternative to the townhouse, depending on what type of lifestyle you enjoy.
As others have already mentioned, you are looking at a topping market. Invest elsewhere, save, pay off your debt, and wait for the crash to get that smaller place.
I'm actually contemplating moving to an RV fulltime, not sure how the parks are up there, but that could be an alternative to the townhouse, depending on what type of lifestyle you enjoy.
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The main issue I am dealing with is whether I should pay down the remaining mortgage ($400K) on the current house, save for a downpayment for new townhouse and move into the new townhouse, etc. Trying to figure out what to do?