All Forum Posts by: Ross Harter

Hello Team,

I am interested in turning my residence (3 bed, 2 bath, 1700 sq ft, 1/3 acre) into a rental and buying a new primary residence. To make the cash flow work in my favor, I would need to charge $2k in rent. When I look at rental properties in the area, they are maxing out at $1900/mo. But these are high end apartments.

Would I be pricing myself out by charging $2k rent? Should I sell the house and use the proceeds to buy a rental property where I could charge a competitive rent?

Thank you,

Ross

Hi Team, my name is Ross Harter and I am in the EARLY stages of real estate investing.

Here's my situation: I currently have a single family home with a mortgage. The mortgage is for $185k, and worth (in the current market) $280k. My wife and I are looking for our forever home, most likely going to build on a plot of land. The current home will most likely need a new roof and gutters within 5 years. Would it be wise to use this property as my first rental property? Or should I use the value to help with the new forever home and look for different rental properties?