I currently own a home out of state with the PITA 1,900 and I make 2,700 in rent. 2,900, but 200 goes to agent.
I bought the house in 2020 for 310k after all expenses. I pay 3.5 that adds up to PITA 1,900.
The issue I am running into is, should I sell it?
I over paid the mortgage (even with low rate). I owe 200k on it. I can sell it for 500k now. Should I sell it, or keep renting?
2,700 rent to 1,900 PITA (310k to 500k) SFH
byu/AdviceNotAsked4 inrealestateinvesting
Posted by AdviceNotAsked4
3 Comments
I would probably sell it. See if you can 1031 exchange
1031 to a duplex or triplex
Using 40 percent expense ratio, you’re at a negative net. Sell that shit, even if you have to pay cap gains. Index fund it.