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Updated 13 days ago on . Most recent reply

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Parents Moving soon, Considering renting vs selling

Posted

My parents own a home worth ~450k in a suburb roughly 40 minutes north of Cincinnati. It is a 4 bed, 2.5 bath 3,000 sq ft on a half acre lot with a large fenced backyard and unfinished basement. It is an extremely desirable neighborhood with extremely friendly people, kids playing outside and neighbors walking dogs, located in a above average school district. They are moving out west in the spring/summer and don't know wether to rent or sell. They have a very good rate on the house and I think they should rent however they are the type of people that don't take risks very often. Any recommendations on what they should do and/or how I could present them with options they could do?

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Mike Dymski
#4 General Landlording & Rental Properties Contributor
  • Investor
  • Greenville, SC
13,312
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Mike Dymski
#4 General Landlording & Rental Properties Contributor
  • Investor
  • Greenville, SC
Replied

If they have a big gain, take advantage of the tax free gain on sale.  And very few 3000 SQFT $450k homes in Cincinnati will make good investment properties.

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