Updated over 3 years ago on . Most recent reply
Considering Renting my Home instead of Selling
I am doing some DD on possibly renting out my Houston property that I have been living in for 12 years. I am using the bigger pockets rental calculator, and I am having some difficulty on the loan portion. I owe approx 225K on a fixed rate loan at 4%. The home right now is valued at 700K.
When I am inputting the numbers for the loan on Bigger Pockets it is only letting me put in information like I am buying the property new. I put in purchase price as what my loan balance is 225K, my interest rate, and the loan term as 30 years.
Could someone help me evaluate how I should be looking at this property to determine the numbers on this property?