Should I sell My Property or Make it a Rental? (2024)

Are you stuck asking yourself "Should I sell My Property or Make it a Rental?". Well don't worry, because in this video I give you advice and free resources to help you make the best decision, for YOU! #realestate #realestateinvesting #realestateinvestingforbeginners

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Time Stamps//
00:00 Introduction
01:18 Return On Equity
03:03 Capital Gains
04:13 Market Specific
05:29 Real Life Breakdown (Rent Out Or Sell?)
09:40 Consider These Scenarios BEFORE Making a Decision
10:45 FREE RENT VS. SELL CALCULATOR WEBSITE

Should I sell or rent my house, sell my house or keep it as a rental, Should I sell My Property or Make it a Rental, should you sell your home or turn it into a rental property

***DISCLAIMER: First off, thank you for all the support. All content from the Evan Phoenix YouTube channel are my own thoughts and opinions. The information from this channel should not be taken as legal of financial advice. Some of the links in the description may be affiliate links where I will benefit from, if you were to click the link and purchase. The links do not include any additional costs to the purchaser.

[feliciaabraham]

Watched a bunch of videos on this topic and yours was the first one to give me a tangible way to make this decision. Thank you. Great content.

[arizonanative]

Terrific content. I am using your rent vs sell calculator! Subbed.

[dalestrnad]

Perfect. Hours of videos and research; you nailed it!

[AislingBast]

What a brilliant video. Great advice, simple and practical.

I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!

[lvkeepfit]

I've thought about moving and renting out my home but I'm worried about getting horrible tenants that'll ruin the property, disturb neighbors and stop paying rent. These days it's hell trying to remove them from your hard earned investment.

[FunintheSun]

Thank you so much for this video. It was extremely helpful 🎉

[cch]

i have a home that i can sell for 500k - 550k. I owe 239k with a 2.75% rate. its on .20 acres so in my area that is considered a good size lot. I can likely rent it no issues for 3500 maybe more. when i plug in the numbers for ROE i'm around 5.7% if i sell at 550 - 38k in closing cost/agent commission. I already bought a new primary residence in a different state. i have one other rental, and this would be my second. i don't need to sell but struggling with leaving so much equity out there and only making 5.7% on it. Yet, its seems impossible to find good enough deals out there to deploy that equity into maybe a multi-family at the current interest rates. I'm not a seasoned investor, just trying not to do stupid stuff with my assets as i don't have a lot of them. Struggling between renting or selling this one.

[Judith-jtmx]

You say for the first calculation that you take net income from the property, divide by the equity you have in the property, then multiply by 10 and put a percent at the end of that number. But the equation on the screen says that you should multiply by 100. Is it 10 or is it 100? A bit confusing, but a BIG difference in outcomes. Can you please clarify?

[Lovepuppies]

Just saw this video and debating on the exact same thing. Curious to know what you ended up doing.
Thanks!

[jmm]

Thank you Evan this is great content would you mind giving your perspective on if you own a home free and clear worth $700 and you're moving into another house with you alone free and clear should I rent the 700 home out or sell it because it will only produce $30, 000 net rental income I figured that's only 4% appreciation that could happen I'm a few years away from retirement thanks for any advice and my success

[patpat]

I've got 100+k ready to be invested and just cant find any profitable/cash flowing property its pretty insane. Back in the day you could cashflow with 3.5% down and now you cant with 20% down.

[kosmiccandie]

Thankyou I am selling just because I live in Cali and laws take care of the renter. Also it is older. 1952.

[karenh]

We have a house in CA and are relocating to AZ. We've thought about renting out our CA home when we move instead of selling, but not sure that's a benefit if we turn around and rent in AZ. Thoughts?

[IanBernardoo]

Isn’t the first calculation incorrect, shouldn’t you add equity built during that year and add it to that rental income?

[boznsjbruhstudios]

Hey i never lived in the property but had my parents live in it and it was in my name the entire time for over 2 years would this make me exempt from capital gains tax??

[robertmarquez]

We are moving next month to a new better house. Had the 10% down in cash to pay for that one. Current home thinking of making it a rental, owe 160k, worth about 290k, mortage and escrow are 984 a month, can rent for 1800$ a month. What would you do? Sell or rent out? From your numbers its about 20% return on equidy every year.

[vegikid]

California law said that I have to sell my house in order to evict tenants not paying rent

[seanharris]

If you live in your primary house over 5 years and decide to sell it on year 7 do you loose your capital gains exemption?

[douniaouaiss-]

I have a property that I owe 75k on it. Equity of 220k. Should I rent it or sell it please?

[fearlessreview]

Be careful with the 2 out of the 5 years. If you rent it out year 3+ that is non qualified use and you will taxes at a prorated amount moving forward.