Sell My House or Keep It As A Rental?

Sell My House or Keep It As A Rental?

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[intrepid_astronaut]

You can only sell a house once, you can rent infinitely, essentially, and sell as a bailout worst case scenario.

[Rainbow_]

I had rented my home and moved out of country it worked fine for 5yrs..we payed of our mortgage of course we cut down on our expenses as much as possible..we paid off in less than 10yrs. We did that with our investment properties too, no mortgage on any.

[Je.rone_]

if investors are getting out of real estate in college towns where i live I will gladly take their place

[deanalbertson]

I think Dave is overlooking the fact that you can build equity over time with rental real estate.

[holyghostpower]

50 to 60 miles away? Thats a daily work commute here where I live

[thesnyderteam-lasvegas]

Terrible advice. What’s it rent for, what’s the PITI, how much debt, how much is it worth, etc. there’s a lot of unanswered questions. Calling it a liability is nonsense. Real estate is THE BEST asset class to build wealth.

[ottertubetv]

I wonder what the follow up is to this caller. Property in Dallas increased by.. well over 40% in the last three years.

[AtomicQuotient]

I like how they forget about the appreciation of the property, you don't have to make money on the renting income, it's going to go up. Now it's different question if it is worth the hassle 60 miles away and finding a good renter. Not being local is an issue, but many people make a lot of money from appreciation even if they wreck the place. I would probably rent it in this case since you already have the place, sell it if things don't work out, you can do that later.

[fiof]

In hindsight, this was horrible advice. Real estate values have skyrocketed in the two years since this video. I like Ramsey's advice on living within your means, but that's about all I agree with him.

[Dflonn]

This is a good way to end up being a homeless landlord.

[Dave-ywwc]

Planning to buy another house in another town. Thinking of renting my current home. It's worth 230, 000 5 bed 1.5 bath. In a town of 8, 000. Could rent it for 1300-1400. I pay a mortgage of 850. Pretty much rebuilt home, fully remodeled, new AC, water heater appliances. Could probably maintain for 2000 a year could probably cash flow about 4, 000 a year after all expenses. Owe 81, 000 on it. With rent, appreciation of 5% as well as tenant paying principal think I could get a roi of about 11%. Not to mention tax deductions and depreciation. I'm not that experienced with real estate however so could be missing a few things in my calculations.

[evancagle]

I believe Dave is a little to quick to tell people not to have rental property. For the average American building a rental portfolio is the best way to get out of the rat race. I respect Dave greatly but it seems like he intentionally tells people to take the less risky route “ no risk, no reward “.

[HaydenKink]

Terrible advice... keep it and rent it out and retire with 10+ properties

[edwinarias]

I want to see John not have a pen in his hand, just ☝️ time!

[AlexJ]

Really needed to hear this advice, we are in a very similar boat and trying to make the same decision.

[NeonPixels]

It's California, this is terrible advice. College town or not, DO NOT SELL that property if you can afford to move into something else. Get a management company, let them handle everything.

[blacklight]

No wonder he fails in real estate. Never sell your house unless you have a big profit coming toward you. When someone sell their home they are only getting asking price. What happened to interest. When you buy a home, you pay principle and interest. You gotta think like a bank and get your principle and interest too. There is a right way and wrong way to sell a house. Taking advice blindly from someone advocating for the bank/lender and financial company is stupid. It will keep you poor and make them rich.

[PassportBrosBusinessClass]

Owning one house makes you wealthy.

Owning two makes you a God.

[Becca_Lynn]

“If you declare with your mouth, “Jesus is Lord, ” and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you profess your faith and are saved.”
‭‭Romans‬ ‭10:9-10‬ ‭❤️❤️❤️

[markg]

Sell it. Also you are gambling if you get good renters now. Not worth the hassle if your not making decent money off a rental income.