Rent or sell my home?? Looking for advice!

[Johnny Torres]

Hi everyone! I'm looking for advice or your opinions on my situation.

I currently own a home in Orange Park, FL (basically Jacksonville) that I bought on March of 2020. It's a 4br 2 bathroom sfh in a really nice neighborhood and has a relaxing pond in the back yard. According to common real estate search sites like Redfin and Zillow the value has increased $100k-$130k. I owe $187k on it.

I'll be separating from the military in August and moving to Guam. I'm trying to decide if I should rent the house out or sell it.

If I rent it out I'll have a decent cash flow. I've also considered selling it and using the money to buy more property, specifically multi family homes.

What do you all think is the best route to take? Thanks in advance for any advice!

[Jaron Walling]

@Johnny Torres You're in a great position so don't be in a rush. You need to understand and learn to run the numbers before making a decision. Numbers, numbers, numbers. What is the COC per (cash-flow) as rental? What are your monthly expenses? Who will handle the PM and what are the fees? Ever plan to move back into the property? If the numbers are negative (costing you $$$) the majority of investors in will tell you to sell. I'm bias on our my market but won't hold a rental that's negative. It's the peace of mind a property isn't costing you MONEY or too much TIME. It's never fully passive but if you're moving overseas you need that.