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Started By
Message
re: Advice: Rent or sell my house before moving out of state
Posted on 7/18/22 at 6:40 am to NC_Tigah
Posted on 7/18/22 at 6:40 am to NC_Tigah
quote:
Also from what I’ve heard, I would need to change my insurance to renter’s insurance, which would add to the cost.
Again if you’re asking this question, you need to sell.
Renters insurance is what you require your tenant to have in place in their names.
Now you may have to let your insurance company know it’s no longer your primary residence, but those two things are completely separate and apart from each other.
0
Posted on 7/18/22 at 6:45 am to Northwestern tiger
You seriously need to sell. You don’t have a clue how to manage a property and the market is sitting in a very good sellers position. Take the money and run.
Posted on 7/20/22 at 3:32 pm to MrJimBeam
quote:
You don’t have a clue how to manage a property
i am still laughing from reading up on what he thought renters insurance was for
Posted on 7/20/22 at 3:42 pm to Northwestern tiger
quote:
Also from what I’ve heard,
you hear wrong about alot of stuff based on your post history
quote:
I would need to change my insurance to renter’s insurance
Posted on 7/20/22 at 4:45 pm to Mingo Was His NameO
quote:
If you keep it as a rental it is going to make your tax situation way more complicated, which isn't the end all be all just FYI.
This is a big consideration if you’re not into this as a planned investment opportunity. We rented our house out after being unable to sell post-2008. There’s a lot to keep up with for deductions and all, but it also sucks to put in your rental income then watch the government swipe its share. And you lose homestead exemption.
There are guys here more experienced to give you the right number, but just make sure your rental price is larger than the mortgage payment. Maintenance, taxes, upkeep, etc all cost money.
Posted on 7/20/22 at 5:14 pm to StringedInstruments
And factor in at least a month of no rent every year unless you get a damn good tenant. There’s no way you can have someone move out 4/30 and the next person moves in 5/1.
I would recommend trying to lock someone in to a min 24 month lease.
I would recommend trying to lock someone in to a min 24 month lease.
Posted on 7/20/22 at 8:28 pm to Northwestern tiger
Rent it. Never sell real estate.
Posted on 7/21/22 at 12:50 am to StringedInstruments
quote:
it also sucks to put in your rental income then watch the government swipe its share
This, it's pretty demoralizing.
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