Continue to Rent or Sell

[Sandesh Ghodke]

I have a question whether to keep the property or sell(because of sellers market) it.

I bought the town house for 185K back in 2013 and in Zillow(and others) property values shows as 300K+. We lived there for 7 years. Currently, I am renting this property(since Dec 2020) for $2000/month and my mortgage payment is $1400, I owe $54K loan to the bank. I have 15 years loan with 2.5 % interest. Also, there is no HOA fees.
I am using management company to find the renter and manage the property. Management company charge us 1st month rent and service fee $110/month.

I am not sure whether  should continue to rent or  sell and buy multiple properties?

Please advise.

Thanks.

[Bjorn Ahlblad]

@Sandesh Ghodke Old primaries rarely make great rentals. Why? Because they were not bought with that goal in mind. You can make a better return selling the property and buying rental properties instead. Maybe a 4 plex, whatever. Optimize your return. In the meantime decide if you want to be an OOS investor or buy something near by and manage it yourself. Either way spend some time to study tenant LL laws. All the best!