Updated over 7 years ago on . Most recent reply
Sell for a gain, or rent for passive income ?
Hello, have been lurking the forums for a bit , decide to make a post.
I have owned my house for a year now. Been renovating it to the point where I have somewhere around 30k in equity in the home. I currently live there along with 2 tenants paying the mortgage.
I have been thinking about moving states and wondering what would be the best option to continue my real estate accumulation . Should I continue renting my home out? If I were to move out I would have an extra 550$ a month coming in over my mortgage.
Or sell my house take the 30k and invest into the new city . What are some pros and cons? Or would I be better suited getting a equity loan and purchasing a second .. kind of lost at the moment . Any input would be great. Thanks !