To Sell or Rent...
Hi BP,
I have a dilemma. I am working on finishing up a total remodel of a 4 bedroom, 2500 sq ft house in a great area. I will have around $80k into it total by the end. I am trying to decide whether I want to rent it out or sell it. Renting I could probably get around $1,300-$1,400 a month and make a nice amount of cash flow since only the renovation ($50k) is financed. Selling I could get between $135-150k which would give me a good amount of cash to invest in something with more units. I currently have 2 rental units and would like to acquire more, I am just not so sure about renting a brand new house out. It kind of scares me to think that someone can completely ruin my hard work in a matter of weeks, or less for that matter. Anyone have some suggestions or ideas regarding this?
Thanks!
Andrew