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Updated about 7 years ago on . Most recent reply

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Chavis Kendrick
  • Rental Property Investor
  • Southport, IN
1
Votes |
24
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First time landlord, does that decrease property value?

Chavis Kendrick
  • Rental Property Investor
  • Southport, IN
Posted
Good evening, My wife and I are plan on buying a home and after two years we will be relocating. We plan on renting this property out in our absence using a property manager. With only a two year time frame should the property appreciate? And would you look to sell on rent out ?

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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

I recommend that you rent instead of buying.  Commissions and closing costs will likely put you upside down after only two years of ownership.

You will need to provide some property analysis if you want any help in deciding whether or not a potential purchase would make a good rental or have appreciation potential.  The lack of that information is the reason for my 1st recommendation.

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