Updated about 10 years ago on . Most recent reply
Selling home after living in it for 1 year!!
So here is the situation, my wife and I purchased our home exactly one year ago and I recently accepted a job offer about 2 hours away. When we purchased the home we put 10k down and now we have realized that if we sell with a realtor.....we will be lucky to break even. Currently the houses in my neighborhood rent for $1200+ per month (booming area and college town).....so it seems like I would be better offer selling my home for a few thousand less than I paid for it to an investor by offering them a great property that would have a 10%+ cap rate, would be a better deal for both of us rather than pay 7% commission and closing costs on the property. What do you guys think? Could I spin this situation into an opportunity for someone wanting to get into rental property or no?