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Updated over 5 years ago on . Most recent reply

User Stats

17
Posts
5
Votes
Helder M Da Silva Santos
  • Everett, WA
5
Votes |
17
Posts

Need advise with current house

Helder M Da Silva Santos
  • Everett, WA
Posted

Hello, need some advise on what to do with our current house. We have a single family house in Everett WA that we purchased in 2011, we owe about $150k and our mortgage is pretty low. 

We are debating about selling the house which on the market we are now i can probably sell for about 450k (estimate) or should i just hold on to it and rent it? We can probably rent it for about $1700 up to $2000 a month. 

We are planning on just renting a small apartment for now since we are moving out of state and we do not know the area yet and possibly buy a house in the future and so we would need some cash for the downpayment which the sale would help with. 

Any advise would be appreciatted. 

Thanks for reading.

Most Popular Reply

User Stats

985
Posts
373
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Brent Paul
  • Rental Property Investor
  • Shakopee, MN
373
Votes |
985
Posts
Brent Paul
  • Rental Property Investor
  • Shakopee, MN
Replied

Why not rent out the house and let someone else pay your mortgage and leverage some of that equity with a HELOC and buy another property or two?

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