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Updated 5 months ago, 08/20/2024

User Stats

10
Posts
3
Votes
Adine Mateo
  • South Carolina
3
Votes |
10
Posts

I need some insight!

Adine Mateo
  • South Carolina
Posted

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? 

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