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General Landlording & Rental Properties

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Brandon Graves
  • Specialist
  • Santa Rosa Beach, FL
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21
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What to do with my 100k equity?

Brandon Graves
  • Specialist
  • Santa Rosa Beach, FL
Posted Sep 23 2018, 14:09

OK BP fam, here is my situation:

3/2 SFH rental that currently rents for $1700/month, but will demand $2100/month beginning 02/01/2019.

I owe 220k. 

I can sell tomorrow for 320k on the low side.

***I've considered selling, upping rent, HELOC. Thoughts?***

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Justin Guidry
  • Youngsville, La
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Justin Guidry
  • Youngsville, La
Replied Sep 24 2018, 10:38

@Tamika Wyche. Your rent needs to be 1% of the purchase price. For easy numbers, you buy a house for 100k the rent should be $1,000/mn. Of course there are other factors to consider, but this is just basic way of analyzing deals fast to see if they are worth digging deeper into.