Should I sell my house or rent it out?

[Michael Cai]

I'm moving out of state and trying to decide if I should sell or rent my current home.., my current house built in 1996 is worth about 630k, mortgage balance is 210k on it. monthly payment is 2100 including tax and insurance. market rent is about 3000k. I have low mortgage interest rate on it is 2.6%. House price has potential of going up more.. (bought in 2015 for 340k)

If I keep the house, I can get 3000-2100 = 900/mo (300 less if I use a management company), also over $1000 of the rent each month goes towards principle.

If I sell the house, I can net a little less than 400k, but what can I invest that into that has better return? Airbnb? Crowdfunding Real estate? buy another rental free and clear?

What would be a wise decision?

[Doug Spence]

@Michael Cai STR would definitely be a way to get a better return on your equity, but you might not be able to STR there depending on your local laws. Where is the property?

If you're accredited, there are many options to get a 10% return, but you MUST vet the sponsor thoroughly. The quality and integrity of the team are more important than the return numbers advertised on a particular idea. 

Good luck and let us know what you decide so others can learn from your journey!