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Updated 5 months ago, 08/20/2024
I need some insight!
I purchased my new build a year ago. I used my VA home loan at a 6.375% ranch style 3 bedroom 2 bath 1316sqft
Purchase Price: $268,552
monthly payment is $1930 I do not pay property taxes.
I'm selling the home to move back to the west coast. Selling at $278,999
Should I keep the house on the market ( delay my move ) and keep it as my primary residence while I save to buy a multi-family?
or rent it out and downsize my life to save more.
If I rent it out my property taxes will go up to 6% since it will turn into an investment property.
I did the rental calculator and the median rental price is $2,075. The highest being $2661. I live 20 minutes from a military base. I think if I market the home to the military it should rent. But I need to make some cash flow for it to make sense to pay the property taxes at the end of the year.
Open to your thoughts/feedback on this?