All Forum Posts by: Ginger Olinghouse

Thank you for all the thoughtful responses. It is so hard for me to sell this property because of its super low mortgage payment and the fact that I love this home. We have owned it for 10 years and lived there for most of that time. I could see myself moving back someday. We had to move because of my husband's job change. I think I probably need to sell it because we waste so much money in interest on our primary home every month, but maybe if I earn enough money in real estate commissions we can pay down the mortgage and refinance. I just got my real estate license. I have until fall of 2026 before capital gains kicks in. I will probably put it on the market in the spring if I don't find another solution. 

It was either sell it and reinvest, keep it and raise the rent, or sell it and pay down mortgage on primary mortgage. All of the selling options would include beefing up reserve funds. 

2047 is around my mortgage payment with principal and interest for my primary residence. With principal, interest, taxes, pmi, and insurance it is $2250. NOI on rental was about 16000. I raised the rent from 1700 to 1800 in June so this will go up.

I pay almost 1800 in interest every month on my primary home. I currently have about $800 above principal, interest, taxes, and insurance in cash flow on my rental. 

It is either earn more cash flow through rentals than what I pay in interest for my primary home or pay down the primary to reduce the interest. 

Yes, exactly. 

 Thanks for responding. I would like to do all of the above, but I guess my biggest priority would be to get my overall cash flow up in the short term. Right now I am spending more in interest on my primary home than I am gaining with my rental income.  

I have a rental that is a single family home. It is worth about $375000. I owe 105,000 at 3.5%. It is under rented to my cousin at $1800. I could probably get around $2100 in rent max. I used to live in it and if I sell it this year I can avoid capital gains. My primary residence has a $308,000 mortgage at a 6.99% with only 5% equity. I am trying to figure out what to do. I told my cousin I need to make a change this year because I cannot continue to rent it at $1800. Should I sell it and pay down my mortgage on my primary? Should I increase my rent to $2100 and keep it. Should I sell it and reinvest the money into duplexes/quads to leverage the capital. I am a realtor so I can save the realtor fees. It is a hard decision to make. I am a little low on reserve funds because of moving and having to sink a lot of money into home repairs on my primary home. The rental also has room for an adu to be built in the back yard. The yard layout would work nicely for that. I don't have the funds to do that at this time. I looked into an HELOC or 2nd mortgage, but the rates are too high on a rental. The rental is in Medford, Oregon. It is a hard decision for me to make. Any advise is welcome. Thank you, Ginger Olinghouse