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Reply to "$2M home w/ $160k HHI?"
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[quote=Anonymous][quote=Anonymous]I was low-income and inherited a house. I never had the money for the maintenance but at least my kids got into a decent school district. My suggestion would be to run the numbers: taxes, utilities, 1% for maintenance costs. Then figure out how much of your 2m would you have to put in a more conservative investment to generate some of the income to run the house. [b]My guess is that if you drop your purchase point, you could either invest in a second property, rent it and generate enough to pay the taxes and maintenance on your primary residence, or keep some in the market (more conservative investments) and use that to supplement income. [/quote][/b] Where would someone find an income generating rental in this market? [/quote]
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