Active Duty Military - Rent/Sell? Brandon FL

[Bryson Miller]

Good Evening,

I am looking at getting some rent/sell insight on my current property in Brandon Florida now that I have received orders to South Carolina. A little information on the property, it is a 2 bed 2.5 bath townhouse in a very well kept gated community just off of i75. It has a community pool, small playground, and two large ponds. HOA fees are $256/month which include wifi, cable, water, trash, yard maintenance, and exterior repairs on the home. I've spoke to renters in the community and the going rate per month seems to be about $1250-1350. My mortgage is about $800/month on a 30yr plan with about 70k remaining on the note. With that being said, these homes are usually on the market for less than a week at 125k/+-5k.

Why should I rent it? 

Why should I sell? 

[Percy Matsunaga]

@ Bryson Miller

I can see both side for sure. If you rent @$1250 that’s a + $450 in cash flow every month. I would definitely use that to my advantage there. 

However, selling that property for $125K would give you $55K in profits. But your probably going to get taxed capital gains on that profit. Unless you 1031 exchange it in the same year. 

I’m leaning towards renting it out.