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Updated over 3 years ago,
What would you do in this position?
Hey folks,
I am getting ready to close on my wife and I's dream home. We currently live in a townhome we bought back in 2018. My question is should I consider selling or renting it out? (Part of me doesn't want the hassle of being a landlord)
Bought for $128,000 back in 2018 and used conventional financing at 5% from what I could remember with down payment and closing costs it was about $12k or so.
Monthly payment which includes principle, interest, taxes and HOA is $1,122. Currently I owe about $113k. Realtor.com tells me I can likely pull $180k.
I am in central Florida and believe I can pull about $1,200 for rent at the very minimum. The property is in very good condition as we swapped out all carpet and put in vinyl flooring and painted.
What do you professionals think?
Thanks!