Residential to Investment Conversion
Hi all,
I have two simple questions.
We moved to VA from CO due to job.
1. We rented our VA Loan Home (New Built in 2015) for $200.00 over the mortgage payment. We lived two and half years in it. It is only three year old home so will go for at least few more years without major expense. Should I keep it for few more years to appreciate and enjoy better return or sell it to make 40K profit.
In Richmond VA we bought town home after moving. That capped my VA Loan.
2. There is community being built where I can buy new town home and rent it with enough rent to pay 15 year mortgage loan payment. So that means if I pay 50K down to acquire property it will be paid off in 15 years by someone else money. I will reap 200K profit from 50K investment in 15 years. This will be my 3rd property with investment loan.
I am beginner in being landlord and real estate investor but my question to all seasoned investors is "Is this advisable?" or "Is there other alternative to invest and generate greater returns?"