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Updated almost 5 years ago,
Should I rent or sell my previous home
Hi All,
This is my first time making a post here.
My question is - I paid cash for my previous home (190K) and it is worth 320K now according to Zillow. I rented it out last year to a not so good tenant who ended up trashing the place (after I had just fixed it to get it rent out ready). Any how, the tenant was paying $2200 per month. My monthly expenses I calculated to be $1495 per month. Cash flow $705/month. I have just fixed it up again and I am torn if I should just sell it or continue to rent it out.
Looking at capital gains - I would not pay any now because I just moved out in 2018. and had lived there since 2012.
Thanks in advance for your responses.