Selling House to use money else where
Hello BPers,
I will be listing my Sacramento rental house soon but wanted to get your input to double check I am not making a mistake. The main goal is to use the funds to buy better performing property. Current rental is cashflow negative before taxes and cashflow positive after. Here is the analysis I did on the current house (the 400 dollar monthly expenses is to account for vacancy, home repairs etc). The 250k purchase price is not the actual value of the home, but the value assessed by the county which I would use as my depreciation number. The actual value is probably slightly north of 300k. The interest rate is what I might be able to refi the house at, not my current interest rate. Used a 1% conservative real estate appreciation.
Please let me know if this is posted in the wrong section.
Thank you!
Eddie