Want a sanity check. Just got married a couple months ago and we want to buy a residence next year.
Currently rented for $2600/mo total rents
Both sides have been rented for 39 of the 42 months I've owned it I believe. Strong rental market.
Have had some expenses, but nothing insane. Most expensive has been refurbishing after getting rid of a bad tenant (somewhere in the $5k ballpark iirc)
After management (10%) I'm clearing approx $1200/month net to me.
If I get the price I want, my ATAX CAGR would be ~30%, excluding rental income over that time period. While I think I got a really good deal and love the monthly cash flow, I think this is a case of buying low and being able to sell high. The house is in Baytown and didn't flood during Harvey, so I would think that would be another check mark in its favor.
Thoughts? Am I an idiot for selling a cash cow?
Currently rented for $2600/mo total rents
Both sides have been rented for 39 of the 42 months I've owned it I believe. Strong rental market.
Have had some expenses, but nothing insane. Most expensive has been refurbishing after getting rid of a bad tenant (somewhere in the $5k ballpark iirc)
After management (10%) I'm clearing approx $1200/month net to me.
If I get the price I want, my ATAX CAGR would be ~30%, excluding rental income over that time period. While I think I got a really good deal and love the monthly cash flow, I think this is a case of buying low and being able to sell high. The house is in Baytown and didn't flood during Harvey, so I would think that would be another check mark in its favor.
Thoughts? Am I an idiot for selling a cash cow?