woodburyowner
Well-known member
yaliu07 said:i am also in the same boat. i rent out my previous property and it is complete paid off.
my rent is 2000 - 300 property tax - 80 insurance - 200 (maybe repair bill). i still can get 1420~1620 each month.
however, i am also concern about my liability. my tenant has a akita dog. if that dog bite someone, i may lose everything.
however, if i sell my house and i take that money and invest in a mutual fund and i assume the return is 5%. i can still generate 1420~1620 each month. However, i will NOT have any liability against me.
Why not just get a 2MM umbrella insurance policy and not worry about it? Cost should be under $1k/year.