In process of buying a new bigger house for $500k with 20% down @4%..will have to sell stocks for the down payment.
Current home purchased in 2013 at $320k with 20% down fixed @3.75.
The loan amount remaining = $250k and house will sell for $420k so i will have ~$150k cash in-hand after sell
Current mortgage = $1720 (P+I+HOA+tax+insurance)..estimated rental income estimated = $2000... so positive cash flow of $280/month
Both properties are close by in same town so not planning to use rental company. My house is 20yrs old and in a decent shape. The only potential expense will be HAVC (~$10k) which is on the last leg. I do have home insurance but not sure how much that will really cover
Proceeds from the sale will go into new house or VTSAX. Please advise.
Submitted January 29, 2018 at 02:15AM by sacsfo http://ift.tt/2DIR92k
