Dilemma. Keep Rental vs Sell/Purchase New Home

[Steve Lee]

Hello,

I did some research and looks like since everyone's situation/location/market is different, couldn't find a viable solution yet. So I'm opening a new discussion.

I currently have a townhouse in howard county MD with tenants where the lease ends in July. Due to recent new job, I had to relocate to Fairfax VA and renting apt for now. This apt lease ends in October. So there's brief timeline.

Here are the current numbers.

House Value	330,000.00
Loan	105,000.00
Current Mtg	1,200.00
Rental Income	2,200.00
VA Apt Rent	1,800.00

Numbers aren't bad, but here's my dilemma and I need some advice or opinions. I would like to move out of apt and purchase a property in Northern Virginia. House price is comparably higher than Maryland. So, with that said below are my options that I'm considering.

1. Keep rental income flow, pull equity and purchase property.
2. Sell current townhome and use sales proceeds as downpayment for new home.

I put together some numbers and if I were to purchase 450k property, there aren't much difference in terms of net income. It's just more loans at the end of the day. I guess it's between 1 loan vs 2 loans but with rental income with higher LTV.

What are your thoughts on this? What would be a wise choice?

Thanks