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Updated over 4 years ago,
Should we rent or sell our free and clear property?
Hello BiggerPockets,
We are looking for some advice. We have two properties. One of them has a mortgage and our intention is to rent/Airbnb this property. The other one is free and clear (no mortgage or other liens on the property). We are trying to determine if we should sell this house and use the money for other investments or if we should hold onto this property and rent it out as well. We are looking to get started as a real estate investors and grow beyond these two properties. We know that keeping this property would give us good practice to see if real estate investing is right for us. In addition, most of the research we have done to this point says that you should not give up property if you don't have to. If anyone with more experience would be able to provide us with some tips or guidance, it would be greatly appreciated. Any specific factors that we should be taking into consideration or any lessons learned you have to share on this topic?
Thank you,
Chris and Rachel