Posted on: 19th Sep, 2009 11:59 am
I own a $200,000 home outright in NJ. I could rent it to my daughter($800.00) or someone else($1100.00&)(Tax/ Insurance $4100). I put so much work into I want to keep it. I have ample cash in IRA($300,000&) but still 59. I want to purchase a primary dwelling in Lake Havasu AZ looking at homes between $125000/$175000 and make it my primary. I'm thinking stinky income soon, could pay off home in 5yrs with Ira, and would like taxes advantage of primary. I,m looking for good advise
Nw a days it is little difficult to get a mortgage pon a second home unless your house is already rented and you can show enough cash reserve to pay for both the houses
for atleast 6 months
for atleast 6 months