Should we keep our home as a rental

[Jared Smith]

Hello everyone,

We are currently living on the outskirts of Memphis, TN in a great, up and coming area. We purchased a home in 2013 for around $400k at 3.5% with $0 down and no PMI with a VA loan. Now we are getting ready to move with the Navy and are trying to decide to sell or rent the property. We would be able to net about $200-$250/month. this would be our second rental property.

Thoughts? 

Thanks,

Jared

[Elizabeth Colegrove]

@Jared Smith 

Everyone has a different opinion. My husband is active duty military. We own in CA, SC, and VA, with 5 different properties and growing! Everyone has their own opinion but we have done amazing making these small "margins" work with other people paying down our mortgage. I love being able to turn personal properties into rentals as they required a small amount of cash for a large asset to have someone else paying off.

It really depends on your long term goal, but ours is to use these "retirements baskets" into reasons that early retirement at 44 is successful! 

We had the amazing opportunity to be able to talk about our journey and business model on podcast 103. 

Let me know if I can help! Look forward to seeing you around