Take the money or start a rental property? My family has outgrown our home, and will need to buy something bigger in the next year or so. While we save up for a down payment, I am trying to figure out what I want to do with our current house. Here are the numbers. Purchased fo: $150k Current value on Zillow (obviously the actual value will vary): $225k Remaining on mortgage: $90k If we sell, I assume we’ll pocket around $135k (current price minus what we still owe). My question is: when we move to our new house, should we take the money from the sale of our current house and invest, Or Keep the current house and rent it out? I feel like we can do more with the money from the sale than from keeping and renting. Thoughts?
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