Figuring out ROI on my current house

[Farak Kazmi]

Hi

I currently have a mortgaged house and I’m moving to another. I need to decide what to do with this one. I’m in Georgia.

Current value:600k

Current mortgage:288k@3% fixed 28 years remaining

Rental 2500-2750pm

Mortgage and other expenses will be about $1750pm

Great school district.

I’m leaving almost 300k in the house. I can remortgage next year to get some money out, but at 5-6% rather than the 3% I have.

I could sell now and invest the $300k elsewhere (I have a friend buying apartments etc, could be stocks, buy a business)

Also, I predict a recession next year, not as bad as 08. So maybe stay in cash and wait for good buying opportunities?

i presume everyone here will say rent, but I need more objective advice and what is my ROI?

$12k rental income+6k reduction in money owed+home price increase/300k equity?

I appreciate your advice.