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Updated over 2 years ago,
Sell property or rent it out
I have a 2000 sq. Ft. 3 bed 2 bath that i bought as my first home. No longer have use for it. It’s worth about 290k and I have about 80k in equity. Mortgage payment is $1200. Based on rental comps in the area I can rent it out for $1800/month.
Should I rent this unit out or sell it and potentially buy two 200k units instead of the the one property? The area is not as sought after (right outside the bigger towns) but I got in this house for 0 down so anything is a profit and I don’t have a problem finding tenants. I’ve just considered buying in more growing communities. Im a newbie so please forgive my ignorance. Thanks in advance!