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Updated about 1 year ago,

User Stats

55
Posts
14
Votes
Eileen L.
  • Rental Property Investor
14
Votes |
55
Posts

Sell CA rental property and buy out-of-state?

Eileen L.
  • Rental Property Investor
Posted

I've been brainstorming about my plans for the future and if I should sell rental property #1 to invest more out of state. My current portfolio is below. I will be moving into an ADU at my parents by summer, so I plan to save a lot for the next 2 years.
A lil background…I will be retiring in 4 yrs from my job with about a $3k/month pension. I’lll be 42 at that time, so I’m planning to work remotely, but just trying to set myself up for success. Please share any advice, thank you! 😊 

Primary residence (turning into rental, Jul 2024)

Home Value: $620k

Mortgage balance (4.5%): $551k

Payment w/HOA: $3,460

Expected rent: $3100-3200

Rental Property #1

Home Value: $730k

Mortgage balance (2.875%): $460k

Payment w/HOA: $2,661.06

Current rent: $3200 (Lease ends in Nov)

Rental Property #2

Home Value: $75k

Mortgage balance: $44k

Payment: $559

Current rent: $930

Rental Property #3

Home Value: $75k

Mortgage balance: $50k

Payment: $662

Current rent: $930

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