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Updated almost 14 years ago on . Most recent reply

Scott W.'s profile image
Scott W.'s profile image
Scott W.
  • Real Estate Investor
  • from chicago, Illinois
  • Member since Jul 23, 2012

User Stats

1,284
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Scott W.'s profile image
Scott W.'s profile image
Scott W.
  • Real Estate Investor
  • from chicago, Illinois
  • Member since Jul 23, 2012
Scott W.
  • Real Estate Investor
  • chicago, IL
231
Votes |
1,284
Posts
General Landlording & Rental Properties

Keep or sell property?

Scott W.
  • Real Estate Investor
  • chicago, IL
Posted

I have a property I bought (owner occupied) in 2003 for $195k. 2 months ago, I bought another property for us to move into & rented out my existing. I would like to know if I should continue to rent it out next year or sell it.

Here are the numbers:

Sell: Current value $147k; owe $127k on it

Continue to rent: $1450 (rent); $1300 (PITI, of which $385/month is towards principal paydown)

Help! :)

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