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Updated over 9 years ago on . Most recent reply

Maurice Colbert's profile image
Maurice Colbert's profile image
Maurice Colbert
  • Rental Property Investor
  • from Blacklick, OH
  • Member since Dec 6, 2015

User Stats

111
Posts
80
Votes
Maurice Colbert's profile image
Maurice Colbert's profile image
Maurice Colbert
  • Rental Property Investor
  • from Blacklick, OH
  • Member since Dec 6, 2015
Maurice Colbert
  • Rental Property Investor
  • Blacklick, OH
80
Votes |
111
Posts
Goals, Business Plans & Entities

Sale Or Rent Current Home

Maurice Colbert
  • Rental Property Investor
  • Blacklick, OH
Posted

So I am wondering if I should sale my current home or rent it. I need some assistance, I tried using the calculator but it didn't work. The reason I am looking into renting is because my wife and I want to move with my brother and save some money and build a new home. So here are our current numbers.

We could rent for $1450

Mortgage is $1,006 (including taxes, insurance, and pmi no HOA)

We have updated most of the home so no work would need to be done really. Balance on loan is $118k, and we could sale in the area for $170-180k.

Do we make a profit now and then purchase some rentals with the profit? Looking for some guidance please. 

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