All Forum Posts by: Esther Ghebremichael

@Matt Nusbaum

Good morning Matt

The home was built 2001. I am second owner living here since 2007. I’m a dentist by profession and have tons of debt. I’m tired of breaking my back doing dentistry to pay bills. Therefore looking for passive income to help pay monthly bills. I want to build a portfolio of real estate for help doing so.

If i rent the house I would hire a property manager or have my father take care of it.

If I sale I would turn around and buy another property. I definitely wouldn’t sale it to pay down my debt.

I have no desires to learn how to be a landlord. Just looking for means to put my foot in the market for passive income to help me not be so stressed.

As I mentioned before I couldn’t figure out how to calculate return to see what was better thing to do.

Thanks for your time

@Nicholas Smith thank you Nicholas.

I bought a new home and need to move out my current home.

Indianapolis, Indiana

My current home has $75k left on mortgage. I bought it in 2012 for $110k. Morgage interest rate 3.38%.

I don’t know if I should sale it or rent it out for cash flow. I tried to use the calculator but still couldn’t figure out what’s best

Rent: possibly $1,250/month (3bed/2.5bath)

Sale: comps for exact home or slightly smaller recently sold for around $160k

With rent I know there are addition expenses: vacancy- tenant repairs

HOA: $25/month

Mortgage/Tax/Insurance: $830/month

Water: not sure I think I average around $30/month possibly.

I do want to get into the game of cash flow rentals but i am not sure if I should do that with Thai property if I can almost sale it and get $85k

Your advice is needed.