To hold or to sell...

[Michael Lyons]

Full disclosure, I’m new to ALL of this.

I bought my first property in Philadephia in August ‘16 ($145k), and through sweat equity (about $30k) + appreciation it has been appraised for 1.75x ($255k) it’s original value. The reason I got it appraised was because I refi’d a few months ago (before I knew ANYTHING about investing) and knocked it down to a 15yr while bumping up my monthly payment $200. Knowing what I know now, this was probably not a good idea. My future plans have changed and I’m going to be moving across the country in the next 6 months and the 2 things I was considering doing were: 1) rent the house out for the next 3 years, then sell and the Owner Occupant Sales Exlusion will still apply or 2) just sell the house when I move. Whichever way I go, I’m 100% going to be investing in other properties in the very near future. I will have some solid liquid assests ($100k) by the time I move, so that’s why I wasn’t too concerned with selling the house immediately, as I don’t necessarily need the profits at this moment (but I know it won’t hurt). I’m going to throw out some stats on the house and any replies would be greatly appreciated because I’m torn on what I should do, and any other suggestions on what I could do would be great too, because I know there’s alot of stuff I still need to learn about investing. thank you guys! 

Total Expenses = $1,521

Projected Rent = $1,650

Cash Flow = $129/Month

CoCROI = 5%