New guy from Los Angeles, relocating back home to NJ... do I sell or rent my property in LA?

[Jon Huber]

Hello BP...

I have listened to the podcasts, but just never signed up. Long time listener, first time "poster"? Anyway, if I would be relocating back to NJ and I am debating on whether I should sell my property in LA. I would stand to make about 35% on it, which (to me) is a homerun for a Los Angeles property on the Westside. I could certainly use the equity and purchase more properties, or I could hold on to this one as properties have appreciated through the roof. Also, this was the first property I purchased, so I used my first time home buyer "blessing from above" with this property and have a 5/1 ARM. I don't even think they do those anymore. I would lose about 100-200 each month, however, the "proposed" resale value would certainly be higher than 2,400 next year. I know I can not predict the future, nor would I expect anyone else to... just asking what they would do in this situation.

   Also, I am looking for some sort of mentor-ship in the Los Angeles - metro or New York - metro areas. I would love to expand my RE portfolio. I do have a full time job in the tech field, but I have had my RE license since 2004 and it has always been my passion.

Would love any and all feed back!

Regards,

Jon