Sell for $80k or rent for 1k
My current residence has a mortgage that costs ~1,100 per month, I can rent the property for a minimum of 2,000 possibly 2,200. Should I rent this out and get a new property or should I sell and cash out ~80-90k?
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Theresa Harris
#3 Managing Your Property Contributor
Pro Member
#3 Managing Your Property Contributor
What other costs do you have associated with the property (property taxes, insurance, etc)? Are there any major repairs coming up? and if you sold, what would you do with the money? Your mortgage probably has low interest rates, so if the numbers work, I'd rent it out.