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Updated almost 2 years ago on . Most recent reply

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Marcus Gaethke
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Sell for $80k or rent for 1k

Marcus Gaethke
Pro Member
  • Specialist
Posted

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?

  • Marcus Gaethke
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    Theresa Harris
    Pro Member
    #3 Managing Your Property Contributor
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    Theresa Harris
    Pro Member
    #3 Managing Your Property Contributor
    Replied

    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.

  • Theresa Harris
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