All Forum Posts by: Kristine Lynch

@Cory Carlson Thank you, Cory! Love the spreadsheet!

@Blake Edwards thanks Blake! All good things to consider

@Dylan Vargas thanks Dylan!

@Mike Alber thanks Mike! Good luck to you too! I think we will sell.

@Greg Lieberman thanks Greg! We will definitely look into multifamily in the near future.

@Dan Heuschele thanks Dan! It’s good to hear advice from personal experience!

@Blake Edwards yes renting it out would cover the mortgage but only providing $100 a month in cash flow after expenses.

Don’t necessarily need the cap gains for the next purchase.

Looking for as much feedback as possible. We currently own a 3/2 single family in Roseville CA and always had the intent of renting it out when we decided to move. For the past 4 years we have been house hacking and renting out the other bedrooms. Now we have the option to move out into another house and rent a room cutting our housing expenses in half.

Original purchase price: 290k

Balance on Loan: 250k

Rents in our area: 2,000/mo

Mortgage, interest, taxes: 1,600/mo

Vacancy at 5%: 100/mo

Repairs at 5%: 100/mo

Maintenance at 5%: 100/mo

Cash Flow: 100

Other notes: we would have to put in about 6,000 to get it rent ready.

Or we could sell it for 400k and walk away with a minimum of 100k in cap gains tax free.

If we put it in a savings account at 2% that’s 2,000. Cash flow of renting it out for a year is 1,200. It seems like a no brainer to sell but we want to be sure we are looking at all the pros and cons before deciding.

Please advise :)