Comment by brightball
3 years ago
I did the math on one of these in Clemson and it would have still cost me $10,000 / year if it was rented year round.
I liked the model but the numbers didn’t work out to make it an investment. Sounds like the one you found does, so congrats!
The numbers don’t work at all for most people. It only works because we live there during off season as our only “home”.
Even then considering that we did a HELOC on our primary home (which is now rented out) , we still lose $12K a year that is only offset by moving to a state with no income taxes.
We also didn’t live in a state that thinks they have the right to tax you on all of your RSU grants that you got when you lived there even if you moved by the time the RSU’s vested.