Updated almost 6 years ago on . Most recent reply
Renting out My House
I would like to rent out my current house that I am living in this coming spring. I have owned the house for 4 years. I owe 168,000 on it and I had it appraised this summer for 205,000.
My questions are:
Should I refinance the home and take the equity? And charge rent on the new loan?
And how much should I charge rent?
Im a greenhorn to all of this and would like to start investing in houses. Thank you!
Most Popular Reply
@Connor Loutsch I don't think you have enough equity to pull anything out with a refi. Most lenders will only do 80% on a refi. Also, what did you mean "And charge rent on the new loan?"