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Buying & Selling Real Estate

User Stats

John Collins
  • Folsom, CA
Votes |

24 with 100k on hand looking to invest in Sacramento area (Folsom

John Collins
  • Folsom, CA
Posted Aug 31 2019, 22:16

I’m a 24 year old living in Folsom at my parents house. Because of this I have a monthly savings Tate of 85% on an 80k salary. I plan to live at my parents house for another year or two.

I now have 100k on hand and was thinking of buying a house in the Folsom area and renting it out.

Is this a good idea?

100k is a 20% down payment on a 500k house, and on Zillow a 500k house has a mortgage of 2.4k with a estimated renting price of 2.6k. Is it worth doing something like this for the appreciation and rent surplus?

Is somewhere like El Dorado area better to invest it?

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