New Member potential rental from old primary [Charleston, SC]

[Alistair Nicol]

Hi all.  

I'm really excited to find this community as it sounds like you all have the research and community knowledge to solve all the headaches that can come with being a landlord.  That is where I am mostly hung up. ;)

I'm a husband and father of 3 and looking to move out of our $370k (Potential Price) 3 BDR 2300 sqft SFR in very desirable neighborhood. Because the rental market is so good in our area I am considering renting it. Rent should yield $2300 a month.

At 100% financing my monthly mortgage would be ~ $1750 so I'm at 75% (no where close to the 50% rule). However if I do sell I'm losing realtor fees and whatever other fees there are associated with the sale.

I also think this house will be a good bit of work going forward and I would rather avoid the headache.  It just stinks to pay all those realtor fees. ;)

My plan as of now is to sell and keep the equity for a better cheaper deal another day.

I'm really looking forward to getting involved in this new adventure (someday) and learning from this great community.

Cheers,

Alistair

[Dmitriy Fomichenko]

Welcome to BP community @Alistair Nicol  It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

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Wishing you the best!