- Folsom, CA
- Votes |
24 with 100k on hand looking to invest in Sacramento area (Folsom
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?