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Updated almost 3 years ago on . Most recent reply

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3
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Mike Blanco
1
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3
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Considering Renting my Home instead of Selling

Mike Blanco
Posted

I am doing some DD on possibly renting out my Houston property that I have been living in for 12 years. I am using the bigger pockets rental calculator, and I am having some difficulty on the loan portion. I owe approx 225K on a fixed rate loan at 4%. The home right now is valued at 700K.

When I am inputting the numbers for the loan on Bigger Pockets it is only letting me put in information like I am buying the property new. I put in purchase price as what my loan balance is 225K, my interest rate, and the loan term as 30 years.

Could someone help me evaluate how I should be looking at this property to determine the numbers on this property?

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