Updated over 4 years ago on . Most recent reply
Newbie landlord here
I need to move and was thinking of renting out my current house. Comps say I could sell it at $575k. It is completely renovated. $120k left on 15 yr mortgage which is 2.75%. Was thinking of doing a Heloc to take out $100k to buy our next house. Payment on old house is $800 / month mortgage and $1200 mth in taxes. Does it make sense to rent out my old house or sell?
Most Popular Reply
Do you plan to self manage the property or hire a property manager?
A lot of it will depend on what the market rent is in your area. If the cash on cash return isn't high enough, it'll probably be better to sell and reinvest the capital into a property with a better ROI.