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Updated over 6 years ago,
My duplex.. sell now or rent it out?
Greetings! My Dad told me to check you guys out! I'm 24 years old, and we are moving from Longview, WA to Dallas, TX, and am unsure about what to do about my recently acquired duplex property. I purchased the duplex in August of 2017, and will be hoping to move this August. Longview is 40 minutes north of Portland, OR ,and values here are rising quickly due to Portland's crazy real estate bubble....
Here are the logistics:
Original purchase price: $135,000
Outstanding balance: $131,000
Estimated current value: $200,000
Mortgage payment: $950
Current Estimated income from renting both units: $1700
Property management cut: 8%
If I sell the unit, I would try to reinvest the earnings into another duplex property in Dallas, TX
I'm looking for some advice.... Do I keep it and rent it out, and revisit in the future while prices keep escalating, or sell it now before they possibly drop? Home values have never done this here in Longview....
Thanks in advance... :)