Rent inherited house or Sell and buy?

Rent inherited house or Sell and buy?

Member since 2020 · 2 posts · 0 votes

I am new to bigger pockets. I have recently purchased a house for my parents. They are covering 70% of the mortgage and covering all of the repairs and utilities. In exchange they are giving me their old house. It is 3 hours away in a poor market. The market that I live in is hot. I am wondering if I should rent that house out or sell and buy in my market. The house is worth 90k. It could rent for 850 without paying utilities. I could sell and purchase 2 houses were I am in. Rent would be about 1500 and mortgage about 1000. What are your thoughts on what I should do?

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  • Rental Property Investor · Atlanta, GA · Member since 2020 · 40 posts · 31 votes
    6y

    Welcome to BP! I am not sure what you mean by poor market? No or limited demand for rentals? Weak tenant base? High crime? No job growth, development, population growth? If your market is growing with good fundamentals then I would strongly suggest focusing your efforts there. It would be close enough to self manage, etc. However, if the purchase price in your market is extremely high and you can't cash flow, you may want to reconsider or find another market.

  • Member since 2020 · 2 posts · 0 votes
    6y

    Awesome. Thank you for the advice. 

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