All Forum Posts by: Alex Guerrero

 Appreciate you responding- Would you still stand by that after my last response?

 Just replied below!

I spoke with the tax office in my area and they let me know once the home becomes a rental property the homestead will be taken off and that will boost the monthly payment to 1815 a month. Now i have a close family member who is willing to pay 1800 in rent so that is not much cash flow but is worth thinking about if theres a benefit of biting the bullet here on -$15 a month to get the money back on the home that they will be paying on it. The value of my home has gone up insanely from the buying date of the first owner of 152,800 in 2018 to 194,200 in 2020 when i purchased it, to 236,600 as of today (all according to zillow). This makes me wonder if its worth holding onto in hopes of my home value continuing its trend and selling if payments become unbearable...

And i love the pros and cons idea, the goal is financial freedom forsure i know my first move is one of the most important moves so i really want to be wise here...

Thank you for that and the response!

Rents in the area go for around 1,500 but are homes build in the 40's so I have that working against me. Now I have a close family member who's willing to rent out our (2019) home for 1,800 a month which would put us down -$15 with the fear of my mortgage payment going up because my home is in a neighborhood that quickly growing and is host of the newest homes by miles in this town and would have to raise the rent by a good bit on that family member again or sell the home on them while only getting a rental home for a year...

The plus side to renting out this home is that by next year it is "EXPECTED" to grow by alot again as the value less than 2 years ago was 198,500 to the 232,500 now. Curious if i should sell and pocket that money for future investments?

Im 24 and looking to change my future. Im going to be moving but i cant figure out if i should sell my home (which is my first home) or rent it out. After i lose my homestead to rent it out the morgage will be about 1815.44 a month including taxes/escrow, intrest, payment.

I purchased this home at 198,500.00 it is now valued at 232,000 minimum and i owe 186,668.73 remaining on the home.

In short is it best to sell this 2 year old home thats in a developing neighborhood or should I create my first rental with this home?

Im 24 and looking to change my future. Im going to be moving but i cant figure out if i should sell my home (which is my first home) or rent it out. After i lose my homestead to rent it out the morgage will be about 1815.44 a month including taxes/escrow, intrest, payment.

I purchased this home at 198,500.00 it is now valued at 232,000 minimum and i owe 186,668.73 remaining on the home.

In short is it best to sell this 2 year old home thats in a developing neighborhood or should I create my first rental with this home?

Im 24 and looking to change my future. Im going to be moving but i cant figure out if i should sell my home (which is my first home) or rent it out. After i lose my homestead to rent it out the morgage will be about 1815.44 a month including taxes/escrow, intrest, payment. 

I purchased this home at 198,500.00 it is now valued at 232,000 minimum and i owe 186,668.73 remaining on the home.

In short is it best to sell this 2 year old home thats in a developing neighborhood or should I create my first rental with this home?