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Started By
Message
Should I Rent My Home or Sell It?
Posted on 6/20/17 at 7:06 am
Posted on 6/20/17 at 7:06 am
(no message)
This post was edited on 11/8/20 at 6:59 am
9
Posted on 6/20/17 at 7:17 am to Kraut Dawg
Sounds like you are scared about getting burnt again; good thing is, the markets aren't down right now.
If I was moving to a totally different country, the last thing I'd want to do is be a land lord. You would 100% have to hire a company to manage the property and the margin looks a little thin to have someone manage the property.
If I was you, I would sell.
Take the cash and part ways. Who knows what adventures you'll want to get into in Europe.
Good luck!
If I was moving to a totally different country, the last thing I'd want to do is be a land lord. You would 100% have to hire a company to manage the property and the margin looks a little thin to have someone manage the property.
If I was you, I would sell.
Take the cash and part ways. Who knows what adventures you'll want to get into in Europe.
Good luck!
Posted on 6/20/17 at 8:07 am to Kraut Dawg
quote:
payment $1970/mo
quote:
Rent $2200-2400
One broken appliance and you would be subsidizing your tenant in this scenario.
Your numbers don't make sense as an investment. Sell.
This post was edited on 6/20/17 at 8:08 am
Posted on 6/20/17 at 10:29 am to Kraut Dawg
Definitely sell. Take the cash. First sentence of your paragraph tells it all. It's hard enough to be a landlord and you don't wanna be a landlord across the Atlantic. Too much can go wrong. I'd wipe my hands clean and start new in Europe.
Posted on 6/20/17 at 11:38 am to Kraut Dawg
Agree with the above. I know people renting their homes in Houston that are making $1000 a month over their mortgage and after insurance, taxes and maintenance costs it barely makes sense for them. Your margin just isn't big enough and certainly not worth the effort IMHO.
Posted on 6/20/17 at 12:25 pm to mule74
quote:
I know people renting their homes in Houston that are making $1000 a month over their mortgage and after insurance, taxes and maintenance costs it barely makes sense for them
Aren't insurance and taxes included in the mortgage payment?
Posted on 6/20/17 at 12:27 pm to mule74
If you rent, don't expect to come back to the same house you left.
Posted on 6/20/17 at 12:40 pm to Kraut Dawg
quote:
insurance rates will be higher.
nope. should be way cheaper. mine are. we are not talking about homeowner's anymore.
Posted on 6/20/17 at 1:13 pm to Kraut Dawg
Just to add an opposing view... I have lived overseas for 3 years now. We chose to keep the house and rent it out for a few reasons... First, even if we just break even or close to it for a few years, that's 4+ years of continuing to build equity. Secondly, we doubt we will return to the US in the same city, and my company's relocation policy is more generous if you open your home than not. So we see it as a way to get as better relo package when we return.
Posted on 6/20/17 at 1:57 pm to Spirit of Dunson
This post was edited on 11/8/20 at 2:46 pm
Posted on 6/20/17 at 2:05 pm to Kraut Dawg
SELL SELL SELL!!!
Posted on 6/20/17 at 2:06 pm to Spirit of Dunson
quote:
irst, even if we just break even or close to it for a few years, that's 4+ years of continuing to build equity
Or 4 years where your money is stuck rotting where it certainly could be invested elsewhere for a gaurenteed profit
This post was edited on 6/20/17 at 2:07 pm
Posted on 6/20/17 at 2:06 pm to Kraut Dawg
Iwould still keep it. We got a local property management company (a friend) to manage the renters, so it is pretty easy. Even if we return to the same town, we will change homes (our family has gotten bigger overseas), but we will keep the house as a decent rental income.
How long will you be overseas? Does you expat housing package depend on your home country housing situation?
How long will you be overseas? Does you expat housing package depend on your home country housing situation?
Posted on 6/20/17 at 2:11 pm to rocket31
quote:
Or 4 years where your money is stuck rotting where can certainly be invested elsewhere for a gaurenteed profit
I get that, but my renters cover the mortgage, taxes, and fees. My house is in an attractive area, and we bought it at a downpoint in the market. We are expecting it to continue to be an income source.
Posted on 6/20/17 at 2:13 pm to Spirit of Dunson
Gotcha.. 
I'm just a bitter homeowner
I'm just a bitter homeowner
Posted on 6/20/17 at 2:15 pm to rocket31
I understand. I think renting is highly underrated. But since we aren't tied down by the house, I don't mind.
Posted on 6/20/17 at 2:27 pm to Spirit of Dunson
This post was edited on 11/8/20 at 2:46 pm
Posted on 6/20/17 at 2:36 pm to Kraut Dawg
If you had $115k in cash and were moving to Europe, would you buy your current house as a rental before you left for Europe?
Posted on 6/20/17 at 2:43 pm to mule74
This post was edited on 11/8/20 at 2:46 pm
Posted on 6/20/17 at 2:47 pm to Kraut Dawg
Sounds like your mind is made up. Sell it, don't look back, and enjoy the freedom of living in Europe with no strings.
I assume you will be in germany, Kraut... what area will you be in?
I assume you will be in germany, Kraut... what area will you be in?
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