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Updated almost 8 years ago, 02/13/2017
Gross vs net rental income
Hi there,
I'm a newbie from Istanbul / Turkey (far from US) trying to learn as much as I can in REI in US by reading forums, blogs, books, listening podcasts. My plans are to moving to Palm Desert, CA in one or two years and start to fixing and flipping in Desert Areas (Palm Desert, Rancho Mirage, Indio, Indian Wells, Coachella Valley, Palm Springs etc.)
I've tons of questions but I guess I'll learn most of them by reading and listening more. I have a few properties in Istanbul that I will be selling to make a start real estate investing in California.
I'm thinking about investing in fix&flips but at the same time I need some passive income to cover my family's living expenses, so I'll leave some of my capital to invest in rentals (buy&holds).
Currently the big question in my head is what is the net (after taxes, without mortgage) rental income in Palm Desert, CA if I invest in $100K (ARV) rental property all cash (no mortgage payments)? Although my cousins are living in Palm Desert, I will consider using a property management company.
Sorry that it may be a stupid (and very long) question but I need some advice to make my plans as a newbie and out of United States investor.
Thanks again for taking your time for very simple question.