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Updated about 9 years ago,

User Stats

50
Posts
8
Votes
Drew Dim
  • Rental Property Investor
  • Anchorage, Ak
8
Votes |
50
Posts

Sell OR Rent?!?

Drew Dim
  • Rental Property Investor
  • Anchorage, Ak
Posted

My first home that I've lived in for 7yrs+ is now up for sale or rent due to a job transfer way out of state.  

I originally purchased it to be a rental as its a great location size etc.  the #s look like:

Mortgage (P&I) $414 (awesomely low!!!!!)

Insurance/tax/hoa etc: $480

Market rent rates $1400 + or - $50

So a great cash flow of around $500ish

I purchased house for $100k and could sell it for around $155ish easily (have several offers). Neighborhood is 80-90's builds so it's def aging,but will remain a fairly solid neighborhood.  

IF we sold it we would have around $70k in cash after fees etc.  the new market we're moving to is very difficult to find a cash flow property that makes sense.  (Alaska is tough).  quad or triplex we've see doesn't make us $500 a month and the price is around $400k or more so very expensive compared to TX.  

Should we keep the single family and landlord long distance OR sell it and take the cash?!?!?!?

Either way is a good option but we just can't decide and I could def use some advice, different perspective or what would you do and why

Thanks in advance

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