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brownie
Baby #1 is here!
Member since 11/08 13903 total posts
Name:
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Question about what you would do with home
If you outright owned your home (like no mortgage) and most likely moving in a year, would you
-sell it
or
-rent it out (and get someone to manage it)?
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Posted 4/14/11 3:56 PM  |
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Prudential Douglas Elliman Real Estate
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Re: Question about what you would do with home
I think Real Estate is almost always a good investment. However where is the home? How far are you moving? If you paid someone to manage it/paid taxes would you make enough money for it to be worthwhile?
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| Posted 4/14/11 3:59 PM |
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Pooka
Oh Happy Day!!
Member since 11/06 5689 total posts
Name:
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Re: Question about what you would do with home
moving in a year, I'd keep it and rent it out til the market got better.
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| Posted 4/14/11 4:00 PM |
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brownie
Baby #1 is here!
Member since 11/08 13903 total posts
Name:
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Re: Question about what you would do with home
Posted by Katareen
I think Real Estate is almost always a good investment. However where is the home? How far are you moving? If you paid someone to manage it/paid taxes would you make enough money for it to be worthwhile?
I'm upstate...I don't know where I'm moving yet so I can't answer that (I'm just thinking ahead right now). It's very close to the downtown area AND getting on the major highways too, but still pretty residential...and I know of lots of young professionals come to the area for work (medicine, engineering, sciences, etc)....so I feel like it would be a great investment...I guess I also think about what a great down payment it would be towards a new house
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| Posted 4/14/11 4:06 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: Question about what you would do with home
Sell it, take some of the money as a DP on a new house and invest the rest.
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| Posted 4/14/11 4:21 PM |
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bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
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Re: Question about what you would do with home
I would rent it out and hold onto it..
rates are low and so long as you're able to get a mortgage and have money for a DP, I'd see that as an extra nestegg for your kid(s) down the road
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| Posted 4/14/11 4:30 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Question about what you would do with home
Posted by CaMacho
Sell it, take some of the money as a DP on a new house and invest the rest.
I agree.
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| Posted 4/14/11 4:30 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Question about what you would do with home
I'd sell it only because I wouldn't want to be worried about a property out of state that I couldn't check up on from time to time. I'd always be worried they were trashing the house (I have heard nothing but horror stories from a friend who had rentals.)
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| Posted 4/14/11 5:13 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Question about what you would do with home
Sell it! Being a landlord can be great but can bring a lot of headaches also.
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| Posted 4/14/11 5:39 PM |
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randella
Love my little man
Member since 8/05 16290 total posts
Name:
Randi
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Re: Question about what you would do with home
I think I would get rid of it-- one house is work enough to manage!
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| Posted 4/14/11 7:33 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: Question about what you would do with home
I would sell it. One of my co-workers rents out one her houses and it seems to be a pain in the butt.
There is so much involved in it. She needs to do background checks on people and even if they come back clean, sometimes the people still wind up being bad tenants. She only lives about 5-10 miles away from the house she is renting out so she is able to hunt them down if they are past due on rent, but it seems like it is a lot of hassle.
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| Posted 4/14/11 8:05 PM |
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kimmaymb20
a year of surprise
Member since 7/09 1119 total posts
Name:
Kimberly
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Re: Question about what you would do with home
Id def keep it and rent it out. Alot of people are looking to rent right now. Its great to have extra $ coming in.
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| Posted 4/14/11 8:38 PM |
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brownie
Baby #1 is here!
Member since 11/08 13903 total posts
Name:
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Re: Question about what you would do with home
LOL
Ok, I guess I'll have to weigh the pros and cons again once I know more details about when this happens  Thanks for your input 
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| Posted 4/15/11 7:44 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: Question about what you would do with home
Posted by kimmaymb20
Id def keep it and rent it out. Alot of people are looking to rent right now. Its great to have extra $ coming in.
ITA! Maybe you can retire early since you will have income from the property
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| Posted 4/16/11 12:55 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Question about what you would do with home
If you have no intentions of moving back, sell it.
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| Posted 4/16/11 1:38 PM |
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beachgirl13
Mommy to 3 boys!
Member since 5/05 4114 total posts
Name:
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Re: Question about what you would do with home
I'd sell it. I've had two friends renting out their homes that had horrible experiences.
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| Posted 4/16/11 5:45 PM |
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