As the title suggests, I managed to close on a house that’s almost exactly what we were looking for.
My plan is/was to keep and rent out my first house. From my math, I should be able to make around $600 / month (yes, I still have a mortgage on it). I know that I could make a decent amount by selling it now, but I’m in a market that is usually competitive, so I prefer to keep it for consistent income.
I’ve done extensive research and given much thought to what all goes into owning a rental property. That isn’t the problem. What’s tripping me up is that with the current state of the market, I feel somewhat guilty about not selling my first house and letting it be a first house for someone else. And that by keeping it and only renting it out, I’m stopping someone else (or maybe another family) from having their own house.
Has anyone done what I’m setting out to do lately and felt the same way? Did you end up keeping it or selling?