Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

46
Posts
13
Votes
Jesse Holshouser
  • Granite Falls, NC
13
Votes |
46
Posts

Best exit strategy for my personal home

Jesse Holshouser
  • Granite Falls, NC
Posted

I've posted a few times about a potential house hack which leaves me with the question: What do I do with my house? When I bought the house, I didn't buy as an investor. It was a few months after buying that I started reading seriously about REI and found bigger pockets. My mortgage payment is $780 a month and me and my realtor figure I could get $1100 a month for rent. If I'm lucky, this ends up being a break even rental. I would be okay with this I could assume the property will appreciate and I can sell in a few years (I know I can't count on appreciation). Another option is to sell as is right now. I would lose several thousand, especially if I list with a realtor. The third option is to do a small rehab and sell. The basement is partially finished. It is framed and sheet-rocked and has heat/air. It would need carpet and a drop ceiling. This would increase the square footage of the house by about 600. I'm not sure exactly how much that would raise the value of the home, but it could be done with about 5-6k. Should I ask my realtor for an estimate of arv? Another option is a lease to own. I welcome any and all ideas, criticisms, etc. Thanks!

Loading replies...