If you want to get out of being a landlord selling the rental is the way to go. If I am reading you right your income is above 250K so you can easily afford the mortgage. In my current place, I paid 50% down payment to keep the payments reasonable. I live in a high cost area so everything is expensive. It was a good move because later I was able to refinance to a 15 year and afford the payments. If it were me I would sell the rental (I'm not interested in rentals) and put down 250K to keep the payments reasonable. I would keep the other money in a money market fund to have for repairs, upgrades, and maintenance. I have purchased two townhouses, and both have cost me a lot of money in fix up costs and maintenance outside of my mortgage.
Statistics: Posted by gotoparks — Tue Apr 09, 2024 2:05 am — Replies 2 — Views 246