Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago on . Most recent reply

Should I keep my house?
Hi all,
I've accidentally found myself as a real-estate investor and am seeking your advice.
I used to live in a house in Austin, TX. When I moved away to get my MBA (no I didn't study real-estate), I decided to rent my house, rather than selling it. Eventually I moved to San Jose, and did a cash out refinance of the Austin home to help with the down payment in San Jose (which is a MUCH more expensive market).
My question is, should I continue to rent my house in Austin or just sell it? Here are the details:
- Purchased brand new in 2004 for $196K
- Cash out refinance in 2015 - house valued at $280k, I continue to own 25% equity ( $70K)
- Refinanced for 30 years at 4.25% interest ($210K loan)
- All in PITI is $1670 per month
- Currently rent for $1745 per month (locked into a 2 year lease with a good tenant)
- Property manager fee is 7.5% , and I'm living in CA, so PM is a must for me
There are all of the details. I'm hoping the cash out refi was a good idea - but it enabled me to buy a great place in the Bay area. Do y'all have any thoughts or advice for me?
Thanks in advance everyone!
Most Popular Reply

How would you factor in monthly equity, plus tax benefits from interest plus property tax into the equation... I know typically you exclude appreciation as speculation...