All Forum Posts by: Justin Anspach

I live in the Central Vallet of California. I am considering moving out of state. I am trying to discern if keeping a CA home will be more trouble than its work if I Move away. Rent will be double my current mortgage. So Cashflow is excellent. But CA as a whole is declining in quality and stability. So Should I cash out now? and just take while the getting is good? Or is this  viable long term investment? 

@David M. thanks for the reply. I will take this into consideration. I have 12 months to research!

@Brendon B. thanks for the reply. I am hoping to start my journey and be able to replace my primary income with this over the next decade. My house is only 11 years old. So everything is in great shape. I will probably have a property manager but I may be able to handle that myself as long as I live in the same town. 

California LLC's are expensive! $800 a year. I don't think I would be ready for that, unless someone can explain why

In the last month I have decided to start my journey. Here is my situation and I would appreciate feedback...

I am going to REFI my house since i am being quoted at 2.875% for a 30 year (NO POINTS PURCHASED.) This will reduce my mortgage from $1592 to $1353 (All taxes insurance included.) I will live in the home for 12 months so I adhere to my lenders guidelines. 

I can rent my home for roughly $1850 maybe more.

I would have the Renter pay $200 a month for solar which is a VERY low for my area. My cost is $260 a month for solar...

I would pay a property manager for $80 a month and Home Warranty to help cover Appliance repairs...$35 a month

The way I see it that is a $300+ cash flow.

am I missing something? Or is it that easy?