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Updated almost 4 years ago, 02/18/2021

User Stats

20
Posts
7
Votes
Sandesh Ghodke
  • New to Real Estate
  • Minnesota
7
Votes |
20
Posts

Continue to Rent or Sell

Sandesh Ghodke
  • New to Real Estate
  • Minnesota
Posted

I have a question whether to keep the property or sell(because of sellers market) it.

I bought the town house for 185K back in 2013 and in Zillow(and others) property values shows as 300K+. We lived there for 7 years. Currently, I am renting this property(since Dec 2020) for $2000/month and my mortgage payment is $1400, I owe $54K loan to the bank. I have 15 years loan with 2.5 % interest. Also, there is no HOA fees.
I am using management company to find the renter and manage the property. Management company charge us 1st month rent and service fee $110/month.

I am not sure whether  should continue to rent or  sell and buy multiple properties?

Please advise.

Thanks.

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