All Forum Posts by: Aria Aref Adib

Thank you all for the insight. I appreciate it.

@Alyssa Strom

Thanks for the feedback. I could rent it for $1800-$1900 per month.

@David Barnett

Thanks for the feedback. Right now, my mortgage is $1250 a month which covers the taxes ($2800 per Year) and insurance ($2200 per Year). If I refinance, I'll have to leave 20% equity and take the rest out as cash. The house can rent out for $1800-$1900 per month. I guess my new mortgage payments will be about $1500 per month which will leave me with $300-$400 cash flow per month.

Thanks for the feedback Darius.

Thanks for the feedback Armin. Actually if I sell, I would get $60k instead of $100k because I have to pay for the upgrades I made last year ($40k).

Thanks for the feedback. I should be able to rent it out for $1800-$1900 a month and I will be managing it myself from TX.

Good Afternoon,

I have a single family home in Minneapolis south suburb (worth $250K-currently owe $150K on the mortgage) which I've lived in for 14 years. Last year I spent close to $40K to replace the windows and the siding (I have one year to pay off before getting hit with a big interest rate; planning to do a cash refinance and pay the $40k that way) but now, I've decided to move to TX. Would it be wise to sell or rent at this point? I appreciate you helping me to figure this out in advance.