September 2018 – Solar Income

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12 Responses

  1. DivvyDad says:

    Very cool, and nice that the income essentially covers your monthly bill too. This is something I will have to look into once we move in a few years, as right now we don’t plan to be in our current state / home long enough to pay off.

    This reminds me of a family member that has a large piece of farm land, and they have leased some land to a company that installed wind turbines. If I remember right, they are paid $10k per turbine per year–not a bad source of passive income!
    DivvyDad recently posted…Recent Buy :: Basket of REITsMy Profile

    • Rob says:

      hey dd

      wow that is a insane income, how many turbines do they have on their farm? Thats awesome.

      Why would you move? Go to a cheaper state?

      cheers man

      • DivvyDad says:

        If I remember right, they have 15 turbines earning them $150k a year! They use that money for their living expenses and to cover the overhead of the farm.

        For us, yes we are looking to move as the state we are in has taxes that are out of control and we just don’t love being here anymore. Our youngest is a senior in high school and I suspect we will stick around here until both boys are done with college, and then we are looking to go somewhere that offers a better balance of quality living vs. cost.

        • Rob says:

          150k a year! dam that is soooo sweet.

          very cool about switching states. I was just listening to a choose fi podcast all about that. Forget what state they moved from but the properties and taxes were insane so they moved and made soo much selling their place. They paid cash for their new house and are now semi retired.

          keep us posted, sounds like a great move.

          • DivvyDad says:

            That’s our plan…we have a small mortgage remaining and with what we should be able to sell our house for here, we should be able to buy a new house for cash and have no mortgage. Plus, based on where we are looking, our property taxes and insurance should be about $6-7k cheaper per year thereby reducing our annual expenses as well.

            I should probably write a blog post about all of this, haha.

          • Rob says:

            dammm 6-7k cheaper? how much are your property taxes now?

            We pay 4400 a year for a 2400sqft place on just over a half acre. Thought we were paying a fortune…. doesnt sound too bad now.

          • DivvyDad says:

            Our property taxes now are about $8500 plus another ~$1k in homeowner’s insurance–and we are in a town where property taxes are cheaper. Some of our friends pay upwards of $12-15k per year for a similar home as ours (about the same size as your home but not as big a property).

            A lot of the homes we have looked at in our desired areas are around $1-3k in property taxes and insurance.

          • Rob says:

            Wow that does sound crazy. Seems like its worth the move, financially at least. Leaving friends and family is always hard though. When I read free at 33 I always thinking of making the move, but would be too hard since all our family and friends are here.

  2. Caroline says:

    Forget the solar income, I want wind turbine in my backyard now!
    The solar income is a nice way to diversify but it is a big one time investment.
    Caroline recently posted…Landlord’s Nightmare? Tenants From Hell!My Profile

  3. Lisa says:

    This is amazing! Do you have to have much technical knowledge to do something like this or do you just hand over money and get it done? Also, how much was your total initial investment in this?

    • Rob says:

      hey Lisa

      I knew a thing or 2 but basically handed money over to a company to do all the permits and installation. It cost us roughly 32k.
      Its great getting money from the sun!
      good luck

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