Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

2
Posts
0
Votes
Braxton Mashburn
  • Saline, MI
0
Votes |
2
Posts

First time rent or fourth time sell

Braxton Mashburn
  • Saline, MI
Posted

Moving back north in the Spring. Didn’t realize we’d be moving so don’t want to lose the 50k down payment + 50k we’ve put into the 700k home in affluent community north of Texas that we purchased two years ago. Contacting pm companies now to weigh whether to sell or rent. Always wanted to rent prior homes but wasn’t comfortable while in military. My payment is 4200 per month now and can probably get that for rent.  I realize I’d likely have to pay pm fees, pool, landscaping out of pocket for on average 500-600 a month with about 4K per year or so to cover gaps in rent and or resigns, etc.

We thought this was going to be the forever home. 

Is it best to give this a shot and pay out of pocket a few years to rent (est 10k per year) or sell it and only get back at best my down payment of 50k?

Properties are moving up in value here about 2% per year.
I paid 650 for it, with a 50k down payment and have put in 50k in new floors, pool deck, A/C, heater, shutter, etc. At best, I could sell it for probably 700 in the Spring, with a couple months on the market.

Thanks for any input.