Zillow Advice: Rent vs Buy - Sell my condo knowing I've made 75k in equity? Or Rent it out and move into a classy loft for $1850. http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ Zillow Advice | Zillow Real Estate Sounds like your condo will ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ Sounds like your condo will have a small positive cash flow if it can bring in $2k a month and you only have a $180k loan (even with HOA and taxes)<br/><br/>I'm sure you've done the math. &nbsp;Sounds like something I would keep and rent out. &nbsp; Tue, 01 Oct 2013 22:00:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-10-01T22:00:00Z It is possible that these ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ It is possible that these answers are helpful for other people as well. Fri, 20 Sep 2013 21:36:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-09-20T21:36:00Z I wonder what the poster ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ I wonder what the poster decided to do as he asked this question six months ago.&nbsp;&nbsp; I always like to read the last chapter of the book, but it happens so rarely here. Fri, 20 Sep 2013 03:28:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-09-20T03:28:00Z If you rent out your home ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ If you rent out your home your new rental will be paid for by your current condo's rent.<br/>Then you are putting away your rent money into an investment that is almost certain to go up and be worth even more in years to come.<br/><br/><br/>Contact a financial advisor at, say, your bank, but I'd say keep it and rent it if you can afford it. There is nothing wrong with having a nice pocketful of change in your pocket for fun/emergencies.<br/><br/>Lots of pros to both, and very few cons to either.<br/>GL either way. Fri, 20 Sep 2013 03:25:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-09-20T03:25:00Z User1770586,Good Evening.All ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ User1770586,<br/><br/>Good Evening.<br/><br/>All solid advise, in the end, it's truly up to you. LTH&nbsp; and write offs versus, a nice one time ROI. Perhaps talk to a financial planner. I rotate my portfolio according to me desired ROI.<br/><br/>Hope that helps.<br/><br/>Have a BEAUTIFUL night.<br/><br/>Shawn, REALTOR, AZ.&nbsp; Fri, 20 Sep 2013 03:16:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-09-20T03:16:00Z Talk with a good tax accountant ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ Talk with a good tax accountant regarding capital gains tax, and recapture tax before you do anything. &nbsp;Make sure to effectively depreciate the property, and write off every expense you are able to. &nbsp;Owning a rental property is a great long-term investment and retirement strategy, just be very aware of the taxes you could get hit with. &nbsp;If you are not maximizing every tax-saving opportunity, the headache is sometimes not worth it! Wed, 18 Sep 2013 23:43:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-09-18T23:43:00Z I recommend Sell the condo. ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ I recommend Sell the condo. Take the profit while it is there. <br/>note- this advice is from a Property Manager...too many condo associations are in financial trouble, causing problems with buyers trying to get financing. My advice would be different if a house/townhouse..... also, you mention both 'condo' and "HOA" in question...there is a difference between the two types of properties. Fri, 06 Sep 2013 05:59:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-09-06T05:59:00Z It depends on your financial ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ It depends on your financial situation. Owning investment (rental)property is the "goose that laid the golden egg" if you can afford to keep it. <br/>The investment can help you pay the mortgage on it and in some cases there is some money left over. Thu, 05 Sep 2013 18:36:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-09-05T18:36:00Z I work extensively in Folsom ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ <p>I work extensively in Folsom and can tell you that it is a strong seller's market.&nbsp; There is a lot of demand from buyers and a very limited inventory.&nbsp; In fact, there are only a few condos currently on the market in the entire city of Folsom.&nbsp; Should you decide to sell, now is a great time.<br/><br/>Home&nbsp;values&nbsp;have greatly increased in a short period of time and could continue to appreciate but many&nbsp;experts in our industry are concerned that either an increase in inventory or a softening of buyer demand&nbsp;could stall the upswing and even send prices back down.&nbsp; The two most prominent scenarios are either an influx of shadow inventory or a rise in the super low interest rates currently available.&nbsp; A combination of the two would certainly make it tougher to sell.<br/><br/>Folsom is a very solid rental market and I am sure that your condo can easily be rented.&nbsp; However, please consider not only your monthly payments but also your HOA dues, utilities, maintenance, property management and vacancies when calculating your cash flow.<br/><br/>Whether you decide to sell your condo or lease it out, now is a great time to make your move.&nbsp; Both Downtown and Midtown&nbsp;Sacramento are fresh, vibrant and exciting places to live.&nbsp; The central location and continued re-developement&nbsp;have helped to create a scene that is different than anywhere else in the Sacramento region.&nbsp;&nbsp;If that lifestyle holds appeal for you, then I would not hesitate to move.<br/><br/>Perhaps, by using&nbsp;your&nbsp;equity from selling your home as a down payment you might have the opportunity to purchase your next place instead of leasing.<br/><br/>Justin Sherrets<br/>Keller Williams Realty<br/>DRE # 01251197</p> Tue, 19 Mar 2013 17:32:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-03-19T17:32:00Z I wish we would have kept ... http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ I wish we would have kept our two first houses. &nbsp;I bought my first townhouse in Danville for 179k and it is worth 600k now and my husband had a house in Tahoe Park which is now worth double what he paid for it. &nbsp;Never sell unless you have too :) Tue, 19 Mar 2013 05:38:00 GMT http://www.zillow.com/advice-thread/Sell-my-condo-knowing-I%27ve-made-75k-in-equity-Or-Rent-it-out-and-move-into-a-classy-loft-for-1850/483625/ 2013-03-19T05:38:00Z