Selling versus Renting Dilemma
We have our Denver home listed as we are relocating out of state. It's a new build in a good area. However, we have had fairly low traffic with one offer from investment group to buy and rent, which unfortunately fell through. From the input and date we've gathered, our monthly NOI would be 2k rented. Not concerned remote PM as I have boots on the ground and can automate bill pay/service requests.
My dilemma is I would like to tap into our 40% equity for alternative investments. Not to mention, we are into another home in an even more expensive market, which I fear we overpaid for, and psychologically, I'm scared to be hit in two places in the event of a downturn.
Seeking any/all BP input and welcome discussion.
Most Popular Reply
@Patrick Farley I don't think you'll see any type of positive cash flow on a single family home rental property in Lakewood (unless you are willing to rent by the room). And if you aren't getting any offers on your property, you either have it listed too high, or your agent isn't marketing it correctly. I'd try to change one of those two things (price or listing agent) because Denver is still a pretty hot market and most properties are still selling fairly quickly.