To Hold or To Sell - Southern Oregon

[Lisa Zak]

Hi..

This is my first post! :) - I'm still living in the condo I bought foreclosed in 2015 and now have $150k in equity. I can't currently rent my place out due to HOA ratio / rental rules..but can rent out a room that would almost cover my mortgage which I plan to do. However I'm at the same time I'm also considering selling to cash out the equity, pay off some debt and reinvest the majority of it in the one bedroom condo....the owner said she may carry the loan @4.5% (if she doesn't carry then I wouldn't sell). The same rental ratio's apply to both condo's...the 1bedrm would sell for around $200k.

Thanks for your feedback :) - Lisa