Should I sell my primary residence?

[John D Stagg]

Hello, I'm new to the sight and to the real estate business. My wife and I only have one rental property. We bought a new larger home and kept our old house to rent out. We both have been wanting to get into the business for a long time and finally decided to give it a shot. We have contemplated selling our new home and moving back into the rental. This would free up a lot of capital each month plus give us a substantial startup capital for new properties. We've found an area and some properties we like to start rebuilding our portfolio. Not like it was much anyway!! I know it's fiscally responsible, but I feel like I would be moving backwards. I would love to get some insight and/or input on this move.

[Jason D.]

@John D Stagg sometimes you have to take a step back to move forward. If you know what your goal is, and moving back into your rental get you closer to that goal, why not? I sold my primary residence and now rent a house while buying rentals (I moved out of state so a little different scenario). My wife jokes that we own 2 houses and dont live in either one 😁, but that will get us to our goal faster than buying another primary residence right now.