Updated almost 4 years ago on . Most recent reply
Newbie landlord here
I currently own a 4 bed 2.5 bath house. I need to move and was thinking of renting it out rather than selling. Comps say I could sell it at $575k. It is completely renovated. There’s $120k left on our 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?