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Updated 12 months ago, 01/18/2024
Rental/AIRBNB on a 30yr 3.3% should I sell?
Looking for insight.
New Investor. I had a house fire in the middle of covid to my primary residence. I needed a place for my family to live while primary was being rebuilt. I decided to purchase a single family 3/1 which I would rent once I was back in my primary. I was able to get a 30yr 3.3% mortgage with 5%down.
Its now been 5 months since I converted it to an Airbnb. It currently cash flows around $400mo including a 12% Mgmt fee I pay to a superhost.
If I self managed It would cashflow around $750mo.
I owe 181k on the mortgage and the house is comped at 250k currently.
I was dead set on selling as of an hour ago but had an idea about potentially partnering up on it. The partner would be able to get into an investment at a 3.3% rate. I would be able to get some sort of cash down in the agreement to free up some capital to buy another property.
Is this even possible? How would I go about figuring out this deal?
Sorry if this doesnt make sense. I just hate to get rid of a 30yr 3.3% with little money invested but taking home 50k on the sale will open up alot of opportunity for investment.