All Forum Posts by: Oren Goltzer

Thanks Bob. Since I don't know much, do you calculate a return on equity being what the house is worth (let's say 385K) minus what I still owe on it (135K) giving 250K. If I am making $6000 a year cashflow then that would be 6000/250000 = 2.4%. Did I do that right?

We bought at a good time in Phoenix at the end of the recession in 2012. Subsequently moved across the country and kept our 3 bedroom 2 bath 1700sqft house. Rented it out a couple years and now it would benefit from new flooring to secure good tenants. We bought it for 158K. It's worth about 350-400K now. Comparable rentals are going for around $1700. If we lived nearby I would definitely keep it but being across the country it's been a bit too much of a headache recently. We are leaning towards selling the house and using the profits to either invest in property close to where we currently live or invest in something that requires less work (we both have very busy regular jobs). Was wondering what some of you would do if you were in our situation? Thanks very much in advance.