Rent or sell my house???

[Patrick Flanagan]

What do you think I should do with my home.

I called around to a few property management companies and they said they can rent my house out for 1500-1600 a month. My mortgage, taxes and insurance come out to $1027 a month.

After property management fees I’ll cash flow about 300ish-400ish a month. It was built in 2008 so my cap x will be pretty low. I’m in a good appreciating market in Oregon too.

Since I’ve lived in the house for 2 out of 5 years I won’t get taxed on my gains. I bought the house for 173k with a va loan and I can sell it for 235-260(houses on my street have sold in that range)

I’ve house hacked my 2 bedrooms the whole time I’ve lived there so I haven’t really ever paid for my mortgage.

Should I sell the house and put that money into a out of state brrrr deal and just keep recycling my money Or should I just keep this house, take the cash flow and have renters pay it off.

If keeping it is the better option, I have a hard money lender that I can borrow money from to start my brrr cycle.

[Patrick Flanagan]

@Grant Schroeder

Wow awesome info!

I just did a refi in January to lock in a 3.1% fixed interest rate. So I’m kind of nervous to do a cash out refi or refinance into a conventional loan mess up my interest rate. lol

But my next house I’m looking for a 2-4 unit that I’ll be house hacking. I just had a duplex fall through.

But I’m mostly looking into picking up my first brrrr deal and I was wondering if using my own money is better then someone else’s

I’ll shoot you a pm