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Updated almost 5 years ago on . Most recent reply

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Selling (Roofstock?) vs Continuing to Rent

Avery Bernstein
Posted

Please help me think this through.  We recently bought a house for 90,600.  Payment $685. Not really that important, but a piece of the puzzle.  We moved OUT of our PAID-FOR house, and have it rented with a Property manager for $1350/mo.  He converted it (on our dime, of course) from a 3/1.5 to a 4/2.  It's on a .4 acre lot in a decent, but not fabulous, side of town. 

Recent comps have pushed local prices up.  My husband has always wanted to sell.  I think $1350 (we take $900/mo) is nothing to sneeze at.  

Our PM is only interested in selling it through Roofstock.  He believes it will be an easy sell for $1350.  

That said...we are going to try and decide this weekend IF selling is the right thing to do.  Our state has become a place that is not conducive for our family, and selling the rental would give us cash to pay off debt and move around.  But then we still have the house (with the 3 acres we planned to develop in the future) to either sell or hold. 

We do NOT plan on paying off our current residence with the proceeds, if that helps in the equation.

Thank you,

Avery

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