Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago on . Most recent reply

User Stats

61
Posts
11
Votes
Kevin Kim
11
Votes |
61
Posts

Sell 4yr old new Town home or Keep

Kevin Kim
Posted

Hello 

I purchased townhome (4 Bed room, 1900 sq) as my primary home 4yrs ago in Eastbay. Now, due to the commute, I am moving to San Jose (this time, I am renting house in good school district) I have 2 out of state cash flowing real investment (SFH/MF) and now I am thinking should I sell my east bay home or keep it as long term investment

If I keep it,

expected rent: $4,100 

expense: (Mortgage+tax = 3700, HOA: 250) so no cash flow but tenant pay mortgage and expecting appreciation in long term.

Pro: I have good 30yr mortgage (2.85%) and purchased price was about 890,000 (tax is lower) . also this home is town home and newer so self maintaining home may not be Hugh issue.

Con: Compare to out of state MF home, cash flow is almost 0 as of now. 

If I sell, I can get 1.3M - 1.35M (Current mortgage balance is 650,000) and I can buy Few out of state cash flowing multi family homes. 

I am leaning toward to keep this home as my long term investment but please let me know if I am missing anything.

Thanks

Most Popular Reply

User Stats

901
Posts
548
Votes
Jared Hottle
  • Real Estate Agent
  • Cedar falls IA Waterloo, IA
548
Votes |
901
Posts
Jared Hottle
  • Real Estate Agent
  • Cedar falls IA Waterloo, IA
Replied

I think with those terms you should keep it. if you break even for a few years you win as rent will go up and so will appreciation. Won't get those terms if you sell and invest in something else and it seems like a solid place. 

business profile image
Jared Hottle Real Estate
5.0 stars
4 Reviews

Loading replies...