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 4 years ago,

User Stats

24
Posts
8
Votes
Joshua Norwood
8
Votes |
24
Posts

what to do with my current house.

Joshua Norwood
Posted

Next year my wife and i are going to be buying a duplex to do the ever so popular house hack.  We are currently living in our first home purchase.  We owe about 209k on this house and the mortgage is a little over 1200 a month.  The house is in good shape and shouldn't need any cap ex upgrades for at least 5 years.  I'm stuck on what to do with it though.  We have about 100k in equity.  We could conservatively rent this house out for $1800.  So my one option would be to rent it out.  Start with a 5-10k reserve account and just put all extra cash after mortgage back into that account.  Our market is appreciating quite nicely and I strongly feel that this could be a good long term property.  But on the other hand I'm not sure if i am just emotionally attached to this property.  I could sell it and use what's left after real estate commission to put towards other property investments and use part of it to pay off a private loan i have.  With house hacking and getting rid of this private loan i could easily reduce my monthly expenses by about 1500.  Then i would have more monthly cash savings to put toward more properties. My wife and i are good with money and currently have a pretty high savings rate.  Any insight would be much appreciated.  

Loading replies...