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70: Rookie Reply: Should I Sell or Rent Out My Primary Residence?

70: Rookie Reply: Should I Sell or Rent Out My Primary Residence?

FromReal Estate Rookie


70: Rookie Reply: Should I Sell or Rent Out My Primary Residence?

FromReal Estate Rookie

ratings:
Length:
12 minutes
Released:
Apr 17, 2021
Format:
Podcast episode

Description

This week’s question comes from Dane through Ashley’s DMs on Instagram (you can find her @wealthfromrentals). Dane is asking: should I sell or rent out my primary residence?  Whenever you’re moving from your current home to a new home, you have the option to sell or rent. While there isn’t one solid answer for everyone, you can find out whether selling or renting is the best option by looking at your market and your specific financial situation.Here are some suggestions:Get comps (comparables) on market rents from homes like yoursSearch through recently sold homes that are comparable to yours and find the median sales pricesPull out a home equity line of credit on your primary home to help buy your next primary home or more rentalsRun the numbers as a sale and a rental, does it cash flow?Refinance for a lower mortgage payment and rent it outRun the numbers for EVERY scenario and make long-term decisionsAnd more!If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).Check the full show notes here: http://biggerpockets.com/rookie70See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Apr 17, 2021
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.