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Updated about 5 years ago,

User Stats

5
Posts
2
Votes
Lewis Sharp
  • North Florida
2
Votes |
5
Posts

North Florida Newbie Looking for Advice

Lewis Sharp
  • North Florida
Posted

Hello, BP community. My name is Lewis Sharp. I don’t have a real estate background but would love to get started. I recently relocated from Nashville, Tennessee to North Florida. I work as a Nurse Anesthetist but would love to use real estate as an additional income source. Ideally, I’d like to use real estate to step away from anesthesia as my full-time job. I’ve been listening to the Bigger Pockets podcasts and would love to be  a part of this community.

I have one property and was Hopi to get advice on the next best step. I’m sorry if this isn’t the right forum I can repost elsewhere. 

I purchased a Fully renovated, 3/2 1250sqft home in East Nashville, TN thinking we would live there for a while. Unfortunately, had to relocate back to North Florida, 2 years after purchase. I’m wondering if I should continue renting this home or sell. Here are the details:

Purchase with 30 year fixed FHA Loan 3.25% interest rate with PMI in 2016
Price $289,900 & $3,500 down

Current balance $264,517

Rent $2400, Monthly mortgage $1713, $687 Monthly Free Cash Flow. 

I had a realtor in the area say the house should sell between 350-400k at current market. I also am quite sure I could get $2500/month in rent. I currently manage the property myself. Any advice or tips would be greatly appreciated!

Regards,

Lewis



 

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