Renting Primary Residence & Job Relocation

[Micah Huffman]

I am considering relocating to Nashville for a job promotion that would be a 20% increase in pay possibly more. I bought my first house 2 years ago for 255k 20% down at 6.375% APR. My payment with insurance & taxes is $1425 a month. I Can only realistically get $1600-$1700 a month renting my house based on the market. But if I sold today I likely would lose atleast 10k.

Would it be feasible to just relocate for the job and rent the house for the time being and see what happens? Or just sell it at a loss… I need some guidance here, I know very little about real estate investing other than I know I’ll be losing money after maintenance and paying a property manager. But I would be passing up on a big promotion that could lead to significant increase in income.

[Drew Sygit]

@Micah Huffman unless you are going to commit to learning some basics about being a landlord AND are willing to commit at least 2-4 hours each month managing a Property Management Company - it's probably best you sell.

Otherwise, it's highly likely you could lose more due to bad tenants and management.