Good day and thank you for taking the time to read this over:
My wife and I are in the midst of a significant real estate decision. We (and our three young boys) have grown out of our small home located in Victoria BC. We have found a new home just up the road that suits our needs, the closing date is Oct 31st. In the mean time we have to decide whether to sell our current home or to retain it as a rental investment. On the one hand, we can sell it now fast (hot market and sought after neighbourhood) for quite a bit more (250-300k more) than what we bought it for 6 years ago. On the other hand, we are close to the university in a well-treed, close to the ocean, nice neighbourhood, and can rent out very easily for 4000/month, which covers all costs with 200/month left to spare for maintenance. We are experienced in managing/owning rental properties (we currently own 12 units nation wide, in addition to our full time careers. Obviously there are several pros and cons either way to consider here. All guidance and recommendations on our case are much appreciated.
My wife and I are in the midst of a significant real estate decision. We (and our three young boys) have grown out of our small home located in Victoria BC. We have found a new home just up the road that suits our needs, the closing date is Oct 31st. In the mean time we have to decide whether to sell our current home or to retain it as a rental investment. On the one hand, we can sell it now fast (hot market and sought after neighbourhood) for quite a bit more (250-300k more) than what we bought it for 6 years ago. On the other hand, we are close to the university in a well-treed, close to the ocean, nice neighbourhood, and can rent out very easily for 4000/month, which covers all costs with 200/month left to spare for maintenance. We are experienced in managing/owning rental properties (we currently own 12 units nation wide, in addition to our full time careers. Obviously there are several pros and cons either way to consider here. All guidance and recommendations on our case are much appreciated.