My husband and I are in our early 30's and built our first home 2 years ago. We recently purchased a new homesite and will be building a new house to move into this spring. We were originally going to sell our current house as we've accumulated about 100K in equity, but it occurred to us that it might make sense to keep our current house as a rental/investment property. Our mortgage, taxes, and insurance = $1,900/month, and after looking at available rentals in our area, we believe we can rent the house for $2,200 - $2,500/ month.
We'd only be pocketing a few hundred a month, but our interest rate is only 3.5%! My thoughts are that our current house will continue to increase in value, and would have very little (if any) maintenance costs with it being so new. We can have someone else pay the mortgage, and help us build wealth. We know very little about financial planning and investments, what do you guys (and gals!) think we should do? Any advice you have for us would be very much appreciated! :)
Submitted January 07, 2019 at 05:08PM by twinklebunnie http://bit.ly/2Fet1Eu
