Relocating Need 2nd Opinions
Looking for some opinions on what you would do?
A friend of mine owns a home in eastern Massachusetts in a desirable area, commutable to Boston with good schools. He owes roughly $260k on a mortgage and the house is worth about $350k. He was recently offered a job in Nashville and is going to be relocating.
He is trying to decide between the following options:
1 - Sell house in MA and use majority of proceeds to pay off high interest debt.
2 - Rent out house in MA which would cash flow approximately $300 per month after mortgage is paid.
The debt load is credit card debt and fairly significant. Any thoughts or ideas are appreciated thanks!