All Forum Posts by: Mark M.

Thanks for the reply Marc! I am 100% not attached to the home and have no problem with someone living in it. In fact after going through the divorce I almost dont like being in it. It is a big house for one person.

I am looking at this from a few viewpoints. The first is that I want to get into real estate investing and I am already in this house so it seems like an opportunity. However I am realizing that the numbers are not very good. 

The other way I am looking at it is that I am from the area and like the flexibility of renting it so that I could potentially move back some day. 

If I sell I will only make a couple thousand after all the taxes and fees. If I rent and manage it myself I am probably around $0 total cash flow. The only positives would be that my equity in the house is increasing and I would have flexibility to move back in someday. Also I know I cant count on this but I do feel confident that the house is in a prime location and will continue to increase in value.

Thanks for the input I really appreciate it! 

Unfortunately I recently went through a divorce. I kept the house which didnt have much equity in it. It appraised at $260K last summer and I owe $1500 per month on a $237K loan. The loan is a 3.65% fixed rate loan and includes PMI. The monthly payment is $1500. I can rent it for $1750 to $1800. It is in a very desirable neighborhood and is one of the cheaper/smaller houses in the neighborhood. I am looking to relocate and trying to figure out if I should sell or rent it. If I do rent I have $5K extra cash on hand to set aside in an emergency maintenance fund and I also make a decent income. Because I am looking to relocate a few hours away I am considering property management. Does anyone have an opinion? Thanks for taking the time to consider my situation.