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Updated about 1 year ago,
Sell CA rental property and buy out-of-state?
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