Renting vs Selling Due to Military PCS (Relocating)
Hello! We just found ourselves in a new situation, and I wanted to seek advice from those who have experienced something similar.
We recently purchased a new build home in August 2022 in Colorado Springs, and we have been notified we are scheduled to move August/September 2023. We are weighing the options of selling vs. renting out our new home. Current situation is as follows.
Rental Properties:
SFH in Fort Knox, Kentucky - Cash flow positive - $300 / Equity 80K / 3.375%
SFH in El Paso, Texas - Cash fllow positive - $200 / Equity 90K / 3.375%
SFH in Colorado Springs, CO - $350 / Equity $140K / 3.625%
Current Home:
SFH in Colorado Springs, CO - Mortgage - $3300 4.375% 30 YR Fixed VA
Rental comps for a 5/3 in Colorado Springs, CO are anywhere from $2800-3400
We want to purchase another property when we go to our next duty station (possibly San Antonio, TX), but our VA home loan is tied into our current home. We would like to keep our new home, just in case we plan on retiring in Colorado, Springs.
Any information or incite would be greatly appreciated!