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Updated 8 months ago,
Rent or Sell rhe big question
Friends I am in need of some guidance. I currently own a home in Hawaii, unfortunately my family and I are moving and we want to make the correct choice. We have the means to rent our current hawaii home and purchase our next home in the mainland. The only problem is that we will be negative cashflow with our current hawaii home by about 1k every month. If we sell, we will make some profit but not much. With the Hawaii market, will it be smart to be negative for a few years and let appreciation catch up? Or will it be better to take the small profit and buy elsewhere?
we purchased the home at a 3% rate and have owned it for about 2 and a half years. The negative 1K per month includes the property management fee. Honestly we could afford to go negative monthly without a huge financial burden. This would be our first rental and we would be living out of state.