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Updated about 7 years ago on . Most recent reply
Cannot decide whether to sell or rent it out
Hi,
This is my first post in this site and a newbie. We have a home in San Diego and moved out of state and rented it for couple of years. The house is in a very good neighborhood, and goes for rent easily and also appreciated from when we bought it. It was our primary residence before renting it out. For us to get the tax benefit we have to sell this year.
We cannot make our mind whether to sell or keep renting it out. How would you all decide and calculate ROI and any help appreciated.
Thank you!
Most Popular Reply
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Steve Vaughan
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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- Sell it. Uncle Sam will in no other circumstance give you a free pass on a $200k cap gain.
- Your cash flow and ROE is low.
- I wouldn't rent out a $570k house ever. Even if damage isn't on purpose, renters tend not to report pesky little leaks and stuff that can blossom into real problems.