Asked by Sirenspan, Fair Oaks, CA • Fri Sep 21, 2012
Trying to decide if buying a newer house in better location and renting out our other house is worth it for positive cash flow. We have a house with payment under $1000.00 and thinking of buying a house in another area because of school choice, and renting out the our $1000.00. The renter market price in our area is $1600 to $2000. We do have equity in current house if need to sale. Me & my wife have great jobs and can retire in five years. We are under fifty YOA and have two great children with one to start college in six years and the other in eight years. We are losing our mortgage tax write off more and more each year. We will need a better write off or pay much more in tax's. I would like to rent our house for positive cash flow and this will keep an asset for years to come. Is this worth the effort? Also, we will be ready to sale or rent out house in six to eight months while saving more money for more liquid cash for savings. We want to move out of current house for schools.
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