Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 on . Most recent reply

User Stats

25
Posts
13
Votes
Kameron Wilson
  • Real Estate Agent
  • New Richmond, OH
13
Votes |
25
Posts

To keep or not to keep?

Kameron Wilson
  • Real Estate Agent
  • New Richmond, OH
Posted

I am coming up on the second year owning my primary residence, my question is whether it makes more sense to keep it and turn it into an investment property or take advantage of the appreciation and tax free money and use that to acquire other units. Here is the situation. 


My current house is 2/1 on about an acre, shared driveway, propane backup - rent would be around $1250-1400/ mo my PITI is $730.

I bought the property off market a year and half ago for 99,500 and i think i would sell for around 190k so roughly 90k tax free less 3% or so for buyers commission etc. 

I think the cashflow would be good but with the yard, landscaping, propane, and having a shared private drive if it would make more sense to take the 90K ish and use that for down payments on multis on smaller lots. Any input is welcome. 

Loading replies...