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Optimum House Buying/Renting Strategy

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  • #16
    Seems like my strategy is not very popular. What would you recommend in my current situation.

     

    I currently own my home outright and in a few months will be at the 2 year mark living here. I need to relocate closer to work so am looking to purchase another home (will probably put 20% down).

     

    Now the question is do I try and rent out my current home once I move? Try and sell and hope to break even? Breaking even when all is said and done would be fine considering then I lived for free for 2 years. Maybe I can list it for rent and sale at same time and see who bites?

     

    I don't need the cash from a sale to put down the deposit so that's not a factor. I would like to minimize taxes if I could.

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    • #17
      Bueller?

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      • #18


        Now the question is do I try and rent out my current home once I move?
        Click to expand...


        Do you want to be a landlord?

        If so will renting it be profitable?

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        • #19
          I would sell but I also don't want to be a landlord at this time.

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          • #20




            I would sell but I also don’t want to be a landlord.
            Click to expand...


            Fixed that for you

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            • #21
              If you do the basic math, money is so cheap right now, it doesn't make sense to pay cash for the property.  You would most likely earn more on investing than you are going to pay for a mortgage.  Look at the yield spread between the two. . .most likely you'll still be earning more

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