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Updated almost 4 years ago, 01/12/2021

User Stats

22
Posts
2
Votes
Nabeel Qureshi
  • Rental Property Investor
  • Falls Church, VA
2
Votes |
22
Posts

Moving out, should I turn my primary residence into a rental?

Nabeel Qureshi
  • Rental Property Investor
  • Falls Church, VA
Posted

3 BR/2.5 BA condo.

The cap rate and cash on cash return I am calculating is negative. Using a vacancy of 8.3%. My loan to value is 73%. I am being very conservative with my numbers (thinking of difficult scenarios). Moving out of state and will be purchasing a new primary residence there. Appreciation in this market is probably around 6%.

If I sell, it’ll be after owning the condo for 1.5 years.

Very new to this- hope my question makes sense.

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