Updated about 1 year ago on . Most recent reply
Should we sell our house or is it worth renting out
We own a home in Kaukauna wi and it's a 3 bedroom 2 bath house. I threw it into the cash flow calculator and it said it would either even out or it willl have a monthly cash flow of around 300$. I set my rent standards a little high and realized that rent is actually not that high.. we have a morgage on it and it looks like the house is selling for more than we originally paid 4 years ago. We plan to buy a second house as well. Should we sell this one and invest in a new one and start fresh? Or should we keep the one in Kaukauna and attempt to rent it out? I'm still new to real estate investing but I'm open to feedback
Most Popular Reply
Hi Jade in Kaukauna, WI!
You own a home there, you think will cashflow if you rent it, and intend to buy your next home.
Your question is should you rent it or sell it and buy the next house?
I think this is a calculation a lot of homeowners are making right now--especially if they have a low interest mortgage, equity, and their house will cashflow as a rental.
The choice is a personal one of course, but I think your future self will thank you if you pull out some equity from your existing home with a HELOC for the downpayment on the next house and a cushion renting your current home, use a property manager as you have other things to do, and buy the next house and do the same thing again. Your existing low interest rate mortgage is an asset that you likely won't get again.
To Your Success!