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Updated almost 4 years ago on . Most recent reply
Should we rent or sell our first home?
We are in the process of selling our first home to buy our second, but we also have the option to rent it out. We live in Denver, which is a great market to rent or sell in. We stand to make close to $200k (after fees) if we sell our home. Our plan was to take that cash and invest in our first BRRRR property.
We stand to make $1200/mo of rental income if we rent our Denver property out. This is before expenses, so I'm guessing it will be closer to $600 cash flow a month. I know no one can tell us what to do, but I'm curious to hear your opinions. What would you do? Thanks in advance. :)
Most Popular Reply
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@Jill Valentich have you thought about a cash out refinance? Why not keep it as a rental? After that,, you can purchase another primary and then use the rest as a down payment on an investment property?
That way, you get the benefit of the low interest rates, hold your current house as a rental to benefit from more appreciation, buy another primary, and also use the extra money to generate even more income with a investment property. That will increase your ROI of all that equity sitting in your house.
- Jeff White