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Updated almost 6 years ago,
Should I sell or continue to rent out?
Hello, BP community, I am currently renting out two properties in San Jose, as follows:
1: Town house, 450K purchase in 2016, currently sale price: $600K.
Expenses:
property tax: $6891.68
interest: $16009.17;
Insurance: $695
Repair: $400
Rents: $2500 * 12 = $30K
The rent just covers the expenses, with a $6000 positive cash flow
2. SFH, 650K purchase price in 2017, and current sale price: $870K
Expenses:
property tax: $9226.2
interest: $19022.42;
Insurance: $617
Repair: $300
Rents: $3400 * 12 = $40800
The cash flow of this is nearly $10K.
I am thinking about whether I should sell them for a profit. Or it makes more sense to continue renting.
I am almost a newbie and any thoughts or suggestions would be highly appreciated!