Rent or sell my current home

[Hayder Alzubaidi]

Hello everyone,

first thanks for taking the time and reading and replying tohelp 

So i am almost done in paying my first home, built in 2018 and i have only 18000$ left in debt, the house worth about 290k 3bd 2bath and 2 car garage, so we are about to move into our new home in 5-6 months

so the idea is we want to rent our current home, but i am having trouble finding the right real estate agent to get me ready to make the decision on renting, as while i am watching videos i see there are many things related to taxes and capital gain, and passive income

So please help me with good place to learn about taxes and things related to renting and then if i should sell in 2-3 years after i move out so i dont pay taxes for the house price increase

[Landon Bleau]

Hayder - congrats on almost paying off your house!  I would research 2 of last 5 years rule and understand that, if you stand to make a large sum of money from selling your house, it would be beneficial to do it without having to pay capital gains tax.  You could then roll this money into multiple properties, so instead of just having this one single family home to rent out, you could use the $290K and put $60K down on 5 properties for example, or all $290k down on a large multi family property.  You have a lot of options with that kind of money so don't limit yourself to just renting out that one property, look at your end goal in real estate and work your way back to where you're at now and see what the best use of that money is. You could also look at lending to others and partner up on deals if your market doesn't possess the properties that align with your goals.