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Updated almost 3 years ago,

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Jada Mayhew
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[Calc Review] Help me analyze this deal

Jada Mayhew
Posted

I am new in the real estate realm and this is the first property I purchased almost 2 years ago. I am purchasing a new house and ready to rent this one out. I am debating between managing the property myself and using a property management company. The first company I quoted with charges 100% of first months rent and 10% monthly after that. My monthly cashflow would increase by $140 if I were to manage the property myself. 

Does anyone have advice for how I should proceed? This would be my first rental property and I will be moving in about a year and will rent my new property out as well. At that point I think I will go with property management for sure. Until then, this level of cashflow seems low, and a high upfront cost that causes me to have to pay two mortgages. 

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*This link comes directly from our calculators, based on information input by the member who posted.