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To: Myrddin

Either you purchased your home 40 years ago or you're exceptionally thrifty with your choice of home for your income! :)


45 posted on 12/14/2005 11:45:26 AM PST by HostileTerritory
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To: HostileTerritory
Either you purchased your home 40 years ago or you're exceptionally thrifty with your choice of home for your income! :)

I moved to Pocatello, Idaho and purchased a 3900 sq ft house on 1/3 acre for $180,000 in 2000. I was able to move $80,000 in net equity from my home in San Diego. The balance was paid off with stock. I still have to sock away $300/month for property taxes.

I declare single/zero on my W4. The tax cuts last year resulted in FIT/SIT refunds round $9,300. I used that as my total cash out of pocket to purchase another 2,000 sq ft house as an investment. The market rental for that property is around $750. My monthly PITI is $528. Cash flow positive even before deductions for tax, interest, insurance and maintenance.

My objective is to be debt free with enough cash flow from rental properties to cover my basic living expenses. I'm not really interested in working 70 hour weeks until the day I die.

59 posted on 12/14/2005 12:11:16 PM PST by Myrddin
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