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Started By
Message
Property in baton rouge
Posted on 1/17/26 at 8:48 am
Posted on 1/17/26 at 8:48 am
We are moving out of state next year. Wondering if we should sell off our home in the 225 area or lease it out. We owe about 175K on it. Zillow says recent sales in the neighborhood have been in the 350K range.
9
Posted on 1/17/26 at 8:52 am to Barkbowwow
Sell it. Why would you want the headache of being a landlord in another state?
Posted on 1/17/26 at 8:55 am to Barkbowwow
What are your goals? Do you have a need for the equity that’s locked up?
What’s your mortgage rate? What area of town?
What’s your mortgage rate? What area of town?
Posted on 1/17/26 at 8:59 am to Barkbowwow
quote:
We are moving out of state next year. Wondering if we should sell off our home in the 225 area or lease it out. We owe about 175K on it. Zillow says recent sales in the neighborhood have been in the 350K range.
Going through this exact situation currently. We moved with the intention to keep our rental property. After a year I’ve decided to sell it. Too much headache and didn’t want to go the property manager route.
Posted on 1/17/26 at 9:06 am to PhiTiger1764
Right now we don't need the equity in the house. Was thinking we could make some money over what we are paying in mortgage. My rate is 3%.
Area is St George.
Area is St George.
This post was edited on 1/17/26 at 9:07 am
Posted on 1/17/26 at 9:37 am to Barkbowwow
The 3% rate is reason for consideration. Run some numbers. For example, if your mortgage all in with taxes and insurance is $1,200 and it can rent for $2,600, it might be worth considering.
That doesn’t mean you’re making $1,400/mo. Need to set aside funds for maintenance/expenses. Consider big ticket items such as the age/condition of roof and AC unit.
There are of course some tax benefits and, hopefully, appreciation long term. But just know it’s not a passive investment and being out of state should give you some pause.
Selling it, taking the $175k equity and throwing in some index fund and making $15k/yr on that is going to be a hell of a lot easier. So it’s just a math equation and making sure you can do better than that.. and weighing whether that extra earned over the truly passive income is worth your time.
That doesn’t mean you’re making $1,400/mo. Need to set aside funds for maintenance/expenses. Consider big ticket items such as the age/condition of roof and AC unit.
There are of course some tax benefits and, hopefully, appreciation long term. But just know it’s not a passive investment and being out of state should give you some pause.
Selling it, taking the $175k equity and throwing in some index fund and making $15k/yr on that is going to be a hell of a lot easier. So it’s just a math equation and making sure you can do better than that.. and weighing whether that extra earned over the truly passive income is worth your time.
Posted on 1/17/26 at 10:03 am to GeauxTime9
I am a local Property Manager. People don't take as good of care of your house as you would. This is even more true if you are out of state and unable to keep a close eye on it. Sell it if you don't need the rental income.
Posted on 1/17/26 at 11:05 am to PhiTiger1764
I like this idea much better now that I think of it
Posted on 1/17/26 at 11:41 am to Barkbowwow
If you don’t need the cash and have a 3% interest rate, it would be crazy to sell it. Get a property manager and ride the cheap loan.
Posted on 1/17/26 at 11:41 am to Barkbowwow
There’s only two or three zip codes in EBR where I would entertain rentals. South of Campus and walking distance to the capitol for the legislative seasons. Also, from experience, there’s a parabolic relationship between happiness and the distance from your rental. I learned my personal limit is roughly 4 miles.
Posted on 1/17/26 at 11:47 am to Tigerfan14
quote:
If you don’t need the cash and have a 3% interest rate, it would be crazy to sell it. Get a property manager and ride the cheap loan.
This sounds great until you discover the property manager will charge you 1 month rent to advertise your property and another month to manage it.
By the end of the second or third quarter you’ll begin dreaming about setting him ablaze after viewing invoices for the most expensive maintenance people in the city for mundane complaints.
Posted on 1/17/26 at 12:23 pm to Barkbowwow
Two separate issues to consider here:
1) Are you a landlord? (No shame if not, I personally will never be one)
1-A) If so, are you willing to accept the additional costs and complexity to be a long distance landlord?
2) Is the subject property worth retaining as a rental property?
Of course, given my distaste for landlording, I’d obviously say sell it and be done.
1) Are you a landlord? (No shame if not, I personally will never be one)
1-A) If so, are you willing to accept the additional costs and complexity to be a long distance landlord?
2) Is the subject property worth retaining as a rental property?
Of course, given my distaste for landlording, I’d obviously say sell it and be done.
Posted on 1/17/26 at 12:25 pm to tom
quote:tried it when was a young man (59 now) one of the worst mistakes I’ve ever made
Sell it. Why would you want the headache of being a landlord in another state?
Posted on 1/17/26 at 1:33 pm to Barkbowwow
Easy. Would you, as a Wyoming resident, seek out and purchase a rental home in BR? Of course not. Sell it.
Posted on 1/17/26 at 2:15 pm to lsuconnman
quote:
This sounds great until you discover the property manager will charge you 1 month rent to advertise your property and another month to manage it. By the end of the second or third quarter you’ll begin dreaming about setting him ablaze after viewing invoices for the most expensive maintenance people in the city for mundane complaints.
Did you just not read your PM’s contract? My PM’s placement fee was 15% of the first months rent, management fees is 6% monthly, I have to be notified before any repair over $100 and can cancel penalty free after 120 days of placement. All transactions and payments are managed on their online portal so I can see every dollar in and out.
Of course you could get horrible tenants, you can have a property that constantly turns people or have a major repair that happens to the house, but welcome to investing.The stock market has plenty of risk in and if you don’t manage that properly you can evaporate a lot of money quickly there too. Especially if you are throwing money in it at its all time highs.
If you want safe, get a good HYSA.
Posted on 1/17/26 at 2:25 pm to Barkbowwow
I would sell it. Even with a good rate of 3%, you’re not going to end up with a good cash flow of you taking in account for insurance, tax, maintenance repairs, upkeep(lawn, termite), vacancy, management fee. This is coming from someone who has a paid of rental property.
Posted on 1/18/26 at 8:38 am to Barkbowwow
Sell. I couldn’t imagine leasing a property there considering the types that would make up the clientele in Baton Rouge.
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