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Updated over 4 years ago,

User Stats

6
Posts
2
Votes
Jay McAllister
  • Investor
  • Indiana
2
Votes |
6
Posts

Rent or sell former primary?

Jay McAllister
  • Investor
  • Indiana
Posted

Hi bp nation I Need Advice. Debating selling or renting former primary. I can pay it off and is worth appx $300,000 and plan then to possibly pull out nice chunk of equity if needed to buy other rentals. Or can sell and profit $100,000 if didnt pay off and sold. Its in a very hot area working class Midwest. My concern is its large over 2300 sq ft and over half acre. Guess im not experienced in a little higher end rental properties yet so have concerns about finding tenants to pay large amount (likely $1300 and up?) and take care of very nice property. I live close ( manage all my own properties) and own other rentals free and clear in the area but none worth this much or as large. Any advice on this situation is greatly appreciated. 

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