But we pay add’l $2k/mo principal and plan to have mortg paid off in 11 yrs, to save $120k in total interest compared to remaining 24 yrs on standard mortg pmts ... plus of course only having to pay PropTax portion in yrs 11+ and make FIRE more feasible
We’re also planning to do that as well, with down payment from existing savings and cashflowing rent to pay rental property mortgage. But definitely *not* in CA ... and then just have a property manager as part of the investment overhead expense
Excluding primary residence, we’re willing to diversify 15% of remaining investment portfolio, so $260K. We plan to pay at least 30% down payment since that’s what lenders expect for an investment property (non-primary residence). We’re looking at SFH in growth cities outside CA (still researching)
Welp if you have 1.5M in your portfolio then sure. I got a few hundred thousands and I am not willing to take a big mortgage even though my salary is 300k TC all cash. Thanks for sharing though. I plan to buy in republican states like Texas where economy is booming, rather than take chances in CA or WA. What is SFH?