Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago,

Account Closed
  • Baltimore, MD - Maryland
0
Votes |
2
Posts

Should I sell or rent my townhouse?

Account Closed
  • Baltimore, MD - Maryland
Posted

I'm trying to decide if we should sell or rent our house in Baltimore.

-Lived in it for 5 years as primary residence. 3.75% interest rate. Currently paying $1550/month (principle, interest, insurance, taxes). Still owe $200k. Paid $220k for it in 2010.  

-We think we could sell it for $280k. But we think we could rent it for $2k/month. If we rented it out, we think our total costs (management company, monthly payments, 3%/yr repair estimate, etc.) would average $2k in worst case scenarios and $1750 in good cases.

We're thinking about renting it out for a year while we move into an apartment. There are no homes we want to buy at this time so are hoping that we can look again in a year and potentially try to sell and buy a new one then. Is renting a bad idea in this case? The alternative is to just continue living here. 

Loading replies...