All Forum Posts by: Ron Burns

I'm in a similar situation re:  resell or rent first decision.  My property has no mortgage, so the numbers run quite differently. 

In your case,  consider this.   If you sold it for 25,000 profit,  Vs rent it for 250 income monthly,  it'll take you over 8 years to get that $25,000. Assuming no expensive issues arise in 8 years.  Then you might have to address 8 years of renter level wear and tear before you sell (assuming you wait the full 8 years).  Depending on market between now and then,  you might come out ahead.  But what might you have done with $25,000 in the meantime? 

Also,  consider the tax implications of reselling within a short time period, Vs later after having rented. 

-Ron

Hiya, I'm pretty new to both the area and biggerpockets. Working to reno a 3/2/2 SFH,and have a 1/1 condo rented, both in McHenry County. Also a 2/2/2 rented in FL. Hope to see more activity in this thread!

Ron