Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago,

User Stats

1
Posts
0
Votes
Dave Hurka
0
Votes |
1
Posts

Primary residence to rental after move, should I?

Dave Hurka
Posted

I have a home I've owned for a few years. Have built up +$100k in appreciation, have about $150k in equity. It was built in the 1950's and was remodeled before I moved in. It is a single family home, and I feel like the area could appreciate more over the next 5+ years (there is billions being poured into education and Amazon HQ being built about 15-20 minutes away). I've decided to move closer to family, and have to decide what I should do with this property.

 I really want to get into real estate investing, but have yet to do my first deal. I am terrified by all the horror stories I see online along with family members consistently telling me I should sell. Is renting a single family home worth it? Selling real estate feels wrong given closing costs of up to 10% (in some cases). However, worried I'll regret not selling at what some people claim is the top of the market and then losing my tax benefits of this being my primary residence and being left with a house destroyed by tenants.

Any advice, ideas, stories, or thoughts would be greatly appreciated!

Loading replies...