I would love to get some input.
I purchased my personal property in 2020 for $300,000. Current resell value is $425,000-$450,000. My current monthly payments is roughly $1800-$1900 per month. I am thinking I could rent my home for around $3000 per month and possibly push it a little higher with the property having a pool and a fenced in acre.
I am hesitant as every time I mention I may rent the property people tell me they wouldn’t due to the pool. Everyone is telling me the liability of the pool is to much for it to be worth it. I am wondering if anyone else has done this and if there are steps you can take to mitigate risk.
The main reason I am wanting to keep the property is I have a cheap loan (roughly 3%) and its in a great market (high appreciation).
Would love to hear others thoughts. Should I take the money and run? Rent? If rent, is there a way to mitigate risk for having a pool?
