All Forum Posts by: Chad Roberts

Do you want to be a landlord? Do you have a handyman and/or realtor that will assist with issues that come up or when the property needs to be prepared for another renter and rented? If you are never going back, I would probably just sell. $250k of your gain is also tax free (possibly $500k if you are married). That leaves you with ~$460k-$500k after taxes to invest somewhere else. Your return on equity is only 5.4% if you rent it.

Thanks @Charles Carillo. This makes sense and I don't currently have any good property management team in place. Thanks for your input.

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Miami, Florida

Hi All - I bought a primary home in 2018 @ 2.75% for 650k and have ~450k remaining on the mortgage. I have my property listed for rent for $8500 and will likely rent between 7k-8K (similar homes rent for this amount). A potential renter just offered to buy my home off market for $1.1M, all contingencies waived.

Also, I'm in FL where climate change is a consideration of mine for long term stability of the market, as I've seen flooding and increases in insurance costs.

My ultimate goal is FIRE and I'm planning on moving to a lower cost of living area to increase my savings rate (Midwest, Portugal, AZ).

Recap:

Sell: 1.1M ( ~$500k Profit)

Hold: Rent for $7500

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Miami, Florida

Quote from @Chad Roberts:

Quote from @Theresa Harris:

What are all of your expenses (mortgage, taxes, etc) on the home? Are you able to buy in the area you are moving to and keep the existing mortgage? How far away is the rental home from the area you are moving to?

thanks for your reply. My total expenses are around $4800/mth. Im looking to GeoArbitrage in the Phx area and rent for a while until interest rates drop or I find deals that are attractive.

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Quote from @Theresa Harris:

thanks for your reply. My total expenses are around $4800/mth. Im looking to GeoArbitrage in the Phx area and rent for a while until interest rates drop or I find deals that are attractive.

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Hi All,

I am moving and trying to determine which strategy makes most sense for my situation. I own a home in a A neighborhood in South Florida. Appreciation and rents have been strong, but I am concerned about climate change and the fragile nature of the home insurance industry here, as rates are rising fast.

Primary home: purchased for 650k in 2018 @2.275. Roof assessment pending for ~30k. Total fixed costs: ~4800 (taxes, insurance, maintenance, capital improvements, etc.)

Current value: 1M-1.2M

Rental potential: 8-12k based on comps

Should I rent or sell this home?

Thanks in advance!

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All Forum Posts by: Chad Roberts

Chad Roberts has started 2 posts and replied 5 times.

Post: Sell or Rent

Post: Sell or Rent

Post: Sell or Rent Primary home

Post: Sell or Rent Primary home

Post: Sell or Rent Primary home