All Forum Posts by: Deborah Bailey

So that’s a little why we are stuck. We are located in the Claycomo area near Penguin Park. If we were to sell the home we would probably just about break even or only be down a grand or two. We really want to keep the home in order to gain the equity and everything, and we can afford the extra $200-$300 a month cost. But based on a 4% appreciation guesstimate and general repair costs plus mortgage pay down, it would take us around 3-4 years to gain enough equity to even be able to refinance the home to lower that mortgage cost and start having monthly cash flow. In that time(without that cost), we could save money enough to put 20% down on an investment property near where we are moving to and start there instead. So it’s a little bit of a pickle on which is a better option for us.

Hi everyone! We need help with making a decision with our current property.

We recently bought our home back in November 2022, and due to a death in the family we are going to have to move out of state (not too far though) this summer 2023. Originally we were going to “house hack” and stay in this house a year then buy another house nearby and rent this one out. However, upon further research it looks like renting this house will actually still cost us monthly because our mortgage is right at the max we could probably charge for rent, let alone additional insurance and property management, etc.

We are having a tough time figuring out if keeping the house to rent is worth it when we know we are negative $200-$300 a month on it. Does anyone have any advice?