Job Relocation - Sell current house or rent it out? HELP!!
Hi all,
My wife and I are currently considering a relocation for a new job opportunity in the Southeast. We have been in our current house in Framingham for a bit over a year. We paid 20% down, and after discussions with our real estate, we realize we can probably sell it for a very small bit over the amount we paid for it originally. However, we would lose money on the sale due to realtor fees and others. We were considering keeping the house and using it as a rental property for the foreseeable future, while we purchase a house in the Southeast. I am wary of landlording so far away, but I have family members who could help with local repairs and management. My mortgage is currently $1600 after fees / taxes, and I expect I could rent the property for $2100-2200. I expect the Framingham property values to continue to rise, which makes me think this is a good investment. I could really use some help from the good folk of Bigger Pockets for some insight. Thank you in advance!!