Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

1
Posts
2
Votes
Sevan Hoshor
2
Votes |
1
Posts

Young Homeowner Question-ADVICE NEEDED

Sevan Hoshor
Posted

Hello all, 

I would like some advice. I am 24 years old. A few years ago I purchased a duplex as primary residence. The interest-rate I got is 2.625%. The Principle, interest, taxes and insurance is 2,000$ per month. I lease the other unit for 1,650$ per month and assume I can get the same for the unit I live in at the time of relocating This is a fixed rate and since I have lived here two out of the last five years. By selling, I would avoid paying capital gains. I’m going to be moving out of state within the next nine months. Taking into consideration agent fees and closing costs. I would bet roughly 200k from selling. Considering my age, I could use parts of this money for my relocating. (Down payment towards a new place). Being a landlord is stressful for me, so I would most likely resort to using a property management company. Between their cut, maintenance, property issues such as roof replacement etc. I am left with the question. Keep it because it’s a good rate, good investment as it would be paid off by retirement age, the opportunity to move back here at some point and have a place secured. Or sell and have the excess funds , not worry about maintenance and landlording. Any advice and insight would be certainly appreciated. My other concern is if our market sees a correction that 200k i would net now, could dwindle down if I’m left in a position of having to sell. 

Loading replies...