All Forum Posts by: Keith Moore

@Hai Loc: $410k Purchase Price with $82k down, no capital gains tax from what I've read as it was a owner occupied principle residence. 

@Steven Vega: Thank you! My thought was if it made sense to sell the property I would try to purchase a multi family unit. Just a thought though, however, California real estate is pricey!

I really appreciate you both responding. Thank you!

The wife and I are expecting our first child in Jan. 2020, we just upgraded and bought another house on top of this house I currently own a condo valued at $490k , remaining balance on mortgage is $336k, and the unit is fully renovated (Monthly Payment: $1543.00) (Orange County, CA) HOA Fee is $385 per month, Property Tax $375 per month, and Insurance $86.00 per month. If I rented it out I would pull roughly $800 per month net as it would lease out for $3200 [4 bed, 2.5 bath, 1700 sqft], If I sold the property, I would most likely get $145k after everything is said and done.

My question is would it make sense to rent it out or sell it? My goal is to start a real estate portfolio and acquire enough homes where I can manage it full time and leave my current job (non-real estate.) 

I appreciate any assistance/guidance from people that live and breathe this everyday. 

-Keith (Newbie)