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Updated about 3 years ago on . Most recent reply

Jake Hill's profile image
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Jake Hill
  • from Minneapolis, MN
  • Member since Jun 23, 2021
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Jake Hill
  • from Minneapolis, MN
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Jake Hill
  • Minneapolis, MN
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General Landlording & Rental Properties

Primary to rental property

Jake Hill
  • Minneapolis, MN
Posted

What is the best strategy when turning a primary residence into a rental property?

Debating on selling property after basement renovations or turning into a rental property.

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Nathan Gesner's profile image
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Nathan Gesner
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Nathan Gesner
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ModeratorReplied

Do the math! Just because rent pays the mortgage doesn't mean it's a good investment. Crunch the numbers to see if it cashflows after paying PITI, maintenance, capex, etc. If not, sell it for top dollar and reinvest the money in a property that actually makes sense.

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