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Updated about 2 years ago on . Most recent reply
Can't decide to sell or keep
I'm constantly flip flopping so maybe it doesn't matter which way I go, I'm leaning toward selling my one rental that used to be my primary. Tenant moves out this week and I'll remodel and replace flooring inside, expecting $10k to prep it for sale.
Purchase price was $123k in 2010.
Estimated sale price: $190k
Mortgage: $70k left for 9 years.
PITI is $970,
Rent expected to be $1500 for next tenant.
I don't want to be a landlord anymore so it's either use a PM or sell. No immediate plans for the money after selling. If I find a house to move to I would buy that and rent out my current home. The house has been basically breaking even, tax advantages are minimal. I feel like keeping it is just waiting for something expensive to happen in the future. I'd rather be more passive. I made great appreciation the 4 years I've rented it, and loan paydown went from $98k to $70k since 2018.
I want to keep it only because houses are so expensive I feel like I won't ever have another, and I have 2 now. But I want to sell because I don't want a headache tenant in the future or major expenses.
Push me
Most Popular Reply

From the sounds of it, I'd sell it. If it breaks even and you don't want to be a landlord anymore, getting a PM will only increase your costs. Now should be a good time in some of the markets as sales start to pick up in the spring.