New in Ohio - sell or rent?

[Daniel Urbancic]

Hi, my name is Dan & I am in Barberton, Ohio. About to move to Madison and I am considering keeping my current house as a rental. I would like to get some advice to see if the numbers make sense.

Rents in the area go for about $750 per month (a few years ago a walked through a house up the street they were renting for 725. My house is very similar, but nicer kitchen, 2nd bath, bigger garage, nicer basement.

Monthly payment is 240 PI.

Taxes 141

Insurance (living there now) 88

Home would sell now for 60-70K.

I don't know if there is anything else I need to list, if so, I will provide it!

Thank you for your advice.

Dan

[Account Closed]

In your position if you have never been a landlord before Sell the house and use the proceeds to buy a rental closer to where you are moving so you can get your feet wet slowly. Especially if you updated everything in the house relatively a few years ago you don't want a tenant to mess everything up and destroy your property.

Sell >> Buy Rental Closer to new town >>>> Update the rental but very inexpensively >>>> Sit back and collect rent checks.