Should I rent or sell my Co-Op?

[Jason Aro]

Hey guys, I am a new listener to the podcast and this is my first post in the forum. Hope this is in the right place. I am looking for some advice as I currently own a coop in the Long Island, NY market and am debating if I should sell it or rent it. I bought my coop in June 2016 for $145k. My maintance is currently $820 and my monthly mortgage is $515. Plus approx $20 for utIlItes (heat and water are Included in my maintenance). Total Is $1350 monthly. Based on recent sales in my community, I believe that I can get somewhere around $170k for my coop. If I were to rent it, based on comparisons I believe that I could get approx $1600 per month, minus the $1455 ($100 renting fee, and the $1355), I would be making $145 per month. I’m leaning towards selling it and reinvesting my profits into a multifamily but was hoping to get some opinions from people with more knowledge in this area. Really appreciate any pointers! Thanks!