Rent current house and buy a new one?

[Jeff K.]

I am currently looking to rent my current house and buy a new primary residence. How much over the mortgage would make sense? Here are some quick numbers, rent in the area is around 1,800-1,900. Current mortgage is around 1,400. Is this enough cash flow to sustain the property?

[Account Closed]

Rent. That's the best option long term. Sell now, get a couple of bucks once, or continue to earn indefinitely. How much profit monthly is up to what you can handle or are comfortable with. Remember it's not just the monthly cash flow, but the paying down of the mortgage, and the appreciation.

I manage for owners who don't make or make pennies monthly, but theirs is the long term asset plan.

Find a good manager, set aside a couple of K for expenses and vacancy because they both will happen, and enjoy the wealth building.