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I can see a future where there will be a lot of Californians with interest only mortgages and other such gimmiks that will NEVER be able to retire.
I'll stick with my all brick 2400 square foot hacienda with its quarter acre lot and mountain views thank you very much with $1450 in annual taxes.
Cam, you are absolutely correct. IF the rental property cannot generate at least what holding a mortgage would generate, then it is a financial loser. Something is severely out of whack on the left coast.
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Bob S. former owner of a 1984 silver 944
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