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Updated 8 months ago,
New investor seeking advice sell or rent
I am fairly new to real estate bought a town house in San Diego last year as a primary home. Interest rates around 6% but looking to move for work. I am deciding if to
1. Rent the place and have a delta of -$2k per month I carry each month. This is quite expensive but hoping to refinance in perhaps a year . Owe about $900k on the loan. Rent would be perhaps $5k , however San Diego rentals have come down this past year
2. Sell the place although it’s only been a year, hoping to at least break even.
My worries are the interest rates will remain elevated so securing another 6% interest rate on a property might be tough to do anytime soon.
would love some advice, thanks!