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Updated almost 8 years ago on . Most recent reply

User Stats

4
Posts
0
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Bobby Maleki
  • Austin, TX
0
Votes |
4
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Keep or Sell my House that i dont plan to live in.

Bobby Maleki
  • Austin, TX
Posted
I bought a house in Balcones Woods. Right in the middle of Domain & the Arboretum. The house is in a really good location. Its a 3 bedroom 2 bathroom with a huge backyard. I bought it for 385k in dec 2014. I lived in it a few months and then decided for me since i am only 1 person it is too much house and it being in a family area not the right fit for me. Everyone is selling me to keep the house and rent it out. It has negative cash flow if i rent it out now about $400-$500 a month estimation. The domain is expanding and becoming the second downtown austin slowly. Is it better if i rent it out. With negative cash flow or sell it and move on. I have been emotionally attached to the house since i am a first time home buyer at 4% interest rate. If i sell it right now ill probablt get 430k minus the realtor commission. I am not sure if i should keep the house. I can afford the negative cash flow and i dont mind managing the tenants. I dont see myself living in the house anytime soon since i am single with no wife and no kids. I would appreciate anyone with experience to give me their feedback. If i sell the house i would put it in an investment that yields about 10% per year return but on 50k. But the house is 430k and continues to appreciate. Please help me im seriously confused. I dont want to regret my decision. Thank you in advance.

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