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Updated over 3 years ago,

User Stats

17
Posts
1
Votes
Buddy Platzke
  • Flipper/Rehabber
  • NC
1
Votes |
17
Posts

Should I rent my home or sell - not sure if BRRR is best

Buddy Platzke
  • Flipper/Rehabber
  • NC
Posted

I have my primary sitting unoccupied (moved in with someone) and I want to purchase another property for STR. I'm not sure if I should sell or rent the house or if there's another possibility. I bought this house 6 months ago at 214k and I've had offers to sell at 254k. Rent could easily be $1600 with mortgage/insurance at $1190. I want to buy land to build on and could use the funds from sale to help with that purchase, but I'm torn bc the house seems to be a great investment and has the potential for good income (I think). I'm not sure if refinancing this early or if I'd get enough cash out is the right move or if it's an option really. Any suggestions on what I should do ? I would love to buy something this summer/fall, but I'm not opposed to waiting. Thank you for your opinion and insight!

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