Updated almost 6 years ago on . Most recent reply
1st timer. Looking into starting a cash flow income
1st timer. Looking into starting a cash flow income. I'm currently in the San Bernardino area. I own my own house but not sure if I can make it into a cash flow with the loan I have. Any suggestions where to start?
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If you're dead set on renting that house, find out what it will rent for then do the math. After accounting for all expenses, vacancy, and the note, how much is left over each month? If it's not more than a few hundred dollars, keep looking. You can use the equity to buy another property, do short term rental in the one you have, or something else!
The key is to learn about options and explore them thoroughly to learn if they'll work for you. Once one of them does, do it!!