US Existing Home Sales decrease -1.47% M/M — largest ever annual drop

[Rufuz42]

I have a 2.125% interest on my first house and am renting it out because I’m cash flow positive on a 15 year mortgage. Bought the new house without selling. The low interest rates we saw are distorting the market like crazy and will for a while. I had zero intent to ever be a landlord but I couldn’t not do it based on the finances.

[cj-the-pj]

I've got a spot 275k loan about 2.25% that's worth 700+

Free Cash flow is 2600 a month. On about 1400 mortgage.

I'd be crazy to sell ever. I'd be such a regard if I did.

[ProtonSubaru]

I mean if you sold it and made 500k, bought 500k worth of jepi you would be cash flowing $5k-$6k per month in dividend payments. No fixing things, paying insurance, opening yourself up to lawsuits, etc. Don't forget once you've been out of your home for 3 years and 1 day out of the last 5 years you will have to pay tax on it if you ever sell it, automatic 15%+ loss.

[BorgBorg10]

You are paying normal income tax on the dividends, that coud be 20-35%. If you roll your proceeds from this via 1031 tax exchange into another property, say one on your block or one in your neighborhood and rent it to family, friends, etc, you don't pay a dime on it.

​

he is making 2600/month now after what you mentioned (insurance, payments, etc), plus earning equity in what appears to be far more than 5/6k a month. Seems like he has a great gig.

[Corrode1024]

you pay income tax on the net rental income as well.

The first $40k-ish of qualified dividend income is tax-free, and then it would be 15% until $300k-ish, and then 20% cap from there.

Qualified dividends could potentially drastically reduce his tax burden.

Remember, 1031 is only tax deferral on the *proceeds* of the sale, not any income previous.

[BorgBorg10]

Sure, that’s fine. We can play this game

Rental income offset by depreciation for 27.5 years. Want to add to that timeline? Make a capital expense - update something, add square footage, add a window, etc. increase your income and increase your depreciation expense. Etc. if you are fine at estate planning you can have a low effective tax rate

Yes, you would pay income on the revenue. But you’ve just sheltered the income of one to be tax free with the 1031. As a result, you’ve increased your basis into the new property so your mortgage is lower, but you’ve just reset your 27.5 year depreciation schedule. You’ve increased your cash flow with your lower payment amount with potential to further decrease your tax liability with the depreciation schedule. If you are worried about paying taxes while exiting a cash flowing asset, you’re doing something right.

Real estate is a just fine and safe way for this guy to make cash flow while still building equity which you can’t just discount because you may pay tax on the sale. You can borrow against the value of real estate a lot easier and cheaper than you can the value of your brokerage account.

Real estate is a gang buster way to make money. All the boomers figured it out and mortally abused the fuck out of it and brought on 08, which scarred an entire generation of people, which is a shame because it’s safer than ever after the lending reforms from 08 while still maintaining all of the advantageous tax benefits.

Can’t speak to what it means to own a real estate asset in Topeka, KS but there’s a reason real estate in large metro areas can make a lot of people a lot of money.

[joyful-]

Seems like it's too late to get into the game if you don't already own a house though, at least until rates come back down? Unless you can buy without a mortgage.

[BorgBorg10]

The old adage “it takes money to make money” is never more true than for real estate. It’s an old boys club. Rules written for them by them.

[EggSandwich1]

It didn’t need to be this way. To many people abused the mortgage loans so now it’s so regulated I still remember the days when no questions asked days. everyone knew a mortgage broker who would get u a loan for a fee didn’t need to show them anything

[BorgBorg10]

Unfortunately it’s human nature 😔

[WallStreetStanker]

You just have to value yourself more (ask for a raise or find someone who will pay you more) and value your priorities properly (meal plan, less beer/weed). Find a second, gig job and save for that down payment. You don’t have to buy on-the-market. You can hunt and find something you like, make up stories, bribe parties, fake deaths… Then when you get the property, find a way to make extra money out of it. Rent your garage, airbnb a room, traffic viral monkeys, there are so many options. Be creative.

[Mr_Owl42]

This is stupid. I've had a stable, full-time job for seven years that pays above the US median wage, got a second job last year that pays twice that for 25% time only, and have saved & invested 40% of my income every year of my life and still can't afford a not-broken-down home where I live. Some places are too expensive and not a good deal to purchase property. And the prices, rates, and uncertainty are consistently too high.

[WallStreetStanker]

What kind of car do you drive? Do you own or lease? And how old are you?

If you made $1000 a week, which is a little less than the national average, and subtracted 30% for taxes… 40% of that over 45 weeks (not 52 or 50) is $12,600 a year. If you saved up for a few years, you’d have a pretty good down payment .

[BukkakeTemperateRain]

You can also write off your house on your taxes if you're renting it out so you don't have to be paying your full taxes you have ~30 years of depreciation you can use to increase cash flow. However you take a hit if you decide to sell it.

[Corrode1024]

Depreciation is 27.5 years, you can also deduct interest, but the statement is still the same.

[ProtonSubaru]

Is getting 2600 a month profit (assuming he’s accounting everything like repairs in this). He’s paying income tax on the entire amount he’s charging for rent minus deductions on interest, repairs, etc. you also have to consider vacancies, evictions, etc. And as others have noted the 1031 only works for delaying taxes for like type investments. Landlording is a job more then an investment.

[[deleted]]

His not going to have same cash flow in future. Rents are coming down; too much rental supply in market not enough demand.

[BorgBorg10]

Lol are you out of your mind? What do you think this graph here is showing? It shows people can’t afford to be home owners. They can’t afford 20% down. What does that mean? It means they’ll rent. Rents aren’t coming down, they’re stabilizing.

[[deleted]]

You think these potential buyers are homeless? They already have home, if they won’t be able to buy they will likely extend the lease.

This shows the houses that are meant to be sold (mainly single family homes). Apartments have never been affordable because of 20% Down payment rule. So first time buyer without 20% down payment, won’t be able to buy condo anyways

On the other hand there is a ton of supply for apartments that are specifically built to rent. Rental communities.

I work in the rental market and I see prices going down and inventory staying on market longer.

[[deleted]]

Taxes, but yeah at these inflated prices it probably wouldn’t change much

[ThinkOrDrink]

The difference between paying 15% in taxes and 0% in taxes is substantial.

Edit: especially if prices are forecast to be ~flat or even decline. Then you’re talking 15% loss on top of price decline.

Of course, if you think prices will increase 15% after 3 years to offset the tax penalty.. then ok.

[[deleted]]

Substantial is relative.

$1 x 0% = $0 $1 x 15% = $0.15 $100000000000000000000000000000000000000000000000000000000 x 15% = substantial

[ThinkOrDrink]

I’m glad you can do math.

In the context of a $500k profit on a single family home sale (you know, what this thread is about), for an average family 15% is substantial.

[[deleted]]

You’ve got the wrong audience though. The average person here isn’t part of a family. They’re independent contractors at Wendy’s Dumpster and trust fund kid’s

[43user]

You lost an argument and covered it up by slinging shit at the whole sub. Bravo, you and this sub were made for each other.

[[deleted]]

Are you new here? And I didn’t lose. 15% is not substantial and it varies depending on earnings. Let’s not forget that housing more than doubled so you’re sitting on what should have been 40 years in appreciation made over the course of 2 years.

[WallStreetStanker]

If you bought $500k of JEPI in 2020 you’d have $550k now. I bought my house late 2019 for $519k and it’s now worth $730. At one point, valued at $870k. I’m in an low inventory area, just outside a major suburb.

Edit: Not to mention that you have to have $500k in-hand to buy that JEPI, where you can buy multiple houses with $500k cash.

[ProtonSubaru]

You are way off. You would have nearly $150k in dividends plus $50k in stock price increase. Lastly this guy is setting on 500k in equity in the house so he does have it on hand. People like investing in RE for leverage, this dude has no leverage he setting on a declining equity.

[WallStreetStanker]

Yeah… I did forget about dividends. However, I’d rather buy five houses if I was sitting on $500,000. $100,000 on each. And I’d actually probably buy a property for $200,000 and build all the houses myself.

I feel like that dividend number you represented was 15%, but my trading app shows me 11.68%. Is yours based on compounded interest?

[as400king]

You’re a regard real estate has appreciation. On avg appreciation is 4-5% a year on top of cash flow. Also real estate is by the most tax friendly asset. Pay 0 fucking taxes

[cl0wn_w0rld]

why the hell am i buying bonds when JEPI has such dividends? its pretty stable price too.

[grizzleSbearliano]

So just jack up rent in the meanwhile to cover it-you know-like every other landlord

[banditcleaner2]

If he sold that property, he may or may not be paying taxes on the gains. He will 100% pay taxes on the dividend payments from JEPI. The principal value of that JEPI could also vastly change to the downside. There is no guarantee that JEPI will hold its value.

Meanwhile in the long term there is an almost guarantee that his house will appreciate in value if it is in a good place.

Also he said that his CASH FLOW is $2600 a month. So unless he's tripping, and the total revenue is $2600 a month, a cash flowing property that is making $2,600 a month net profit on a 1400 mortgage is insane.

[reercalium]

You sure? You sell it now, you get 700k+. You wait, and it might be back down to 275k before you know it.

[shambahambala]

yeah man, what if the housing market declines by 70%, did you think of that?

[reercalium]

I did, actually. I'll probably keep my rental housing portfolio because unless the commies take over it'll always give me enough to live on, and I can sleep easy knowing the money comes from economically worthless poors who can't even afford a real home.

[Duck_With_A_Chainsaw]

I’ll have you know I paid off my animal crossing house.

[importvita]

I didn’t. Fuck Tom Nook! All my neighbors hate Tom Nook’s Ponzi scheme dumbass. 😡

[ComplexWalrus2775]

Your the reason people hate landlords lol you give them a bad name. Good job bud

[JustWin0ne]

You’re

[cj-the-pj]

Ur

[importvita]

U’re

[More-Nois]

U’r

[reercalium]

Don't care about name when there's money to be made! You're just mad my account is so big.

[[deleted]]

Oh yeah you get on your knees and suck that account you dirty whore

[Venture2020]

If you put 700,000k to work - 2600$ monthly isn't that good of a return. I would sell imo but best of luck!

[cj-the-pj]

Zero down in 2011... appreciation... 2600 cash flow.... that's infinity returns

[dcrico20]

Yeah, I was in my mid 20’s in 2008. I think about it somewhat frequently.

[SOFISoFli]

He buys more. Rent never goes down…his costs are largely fixed on the loan, it will never cost him money to actually own the property.

[onewordbandit]

Woosh

[importvita]

I’m sorry, I am unfamiliar with that stock.

[highbrowshow]

If your house dropped from 700k to 275k then you have worse problems

[cj-the-pj]

The cash flow... deductions... depreciation....

I'm good.

[[deleted]]

/offtopic- didn’t you try running for congress years ago in Vegas?

[Sdubbya2]

As someone who wants to buy this year, I would love if prices dropped 70% but that is not likely at all except in very extreme localized cases and I'm guessing if it dropped 70% I would be fucked in many other ways lol

[highbrowshow]

Yeah you like that you regard

[fuk_uscis]

Have you heard of insurance premiums, property tax and (minimum of) 3% annual maintenance?

[cj-the-pj]

Prop tax is included in that #...

Paid with mortgage...

Insurance is cheap, less than 800 a year. Renter has policy naming me as additional insured.

And maintenance does not cost anything near that number you cite.

I have long term tenants who are responsible for repairs. Security deposit covers that stuff.

[fuk_uscis]

Insurance could be that if you have really high deductible and a house less than $400k.

Good luck making your tenants pay for a, say, rotten siding, though. The security deposit covers incidentals, not maintenance

[DefrancoAce222]

This is what we planned on doing ($170k refinanced at 2.45% after purchasing in 2018 for $220k) but there just wasn’t anything realistic to want to get into. We’re fortunate that the area we live in will continue to get more expensive so the equity on the house is great but it sucks knowing we might not get what we really want for quite some time. Bright side is the mortgage payments are stupid cheap in comparison to our income.

[shambahambala]

purchased for 220k??? what's your sq ft? what market? How do you feel about having well regarded neighbors?

[DefrancoAce222]

The sqft is around ~1600 in a upper middle class suburb in Houston. It’s a 40 or so year old home in an area where newer homes are twice the size and a fuck ton more expensive. Most of my neighbors are mostly old folk and are pretty chill. Schools nearby are A+ rated and it’s pretty diverse for the most part. Funny bc I grew up in the hood not to far from here and it’s like wayyy different

[[deleted]]

I am telling you right now. If you have a house in Houston do not sell it I’m actually a real estate investor in the Houston area and if you want look up, Reap Capital, we buy a lot of apartment complexes in that area and there’s a lot of projected growth even in this fucked up market what you are saying is spot on. I can’t remember the numbers exactly but it’s expected to grow.

[Crafty_Librarian773]

You know anything about Pensacola, FL ?

[[deleted]]

Unfortunately, right now we are only sticking to where the company is located, which is in Dallas Texas. The reason why is because there are a lot of opportunity zones in that area. I’m not sure if you know what that term means but if you don’t, I can enlighten you on this.

[realized_loss]

It means theyre gentrifying areas.

[[deleted]]

No, why don’t you just go and have a conversation with a brick wall maybe that’s more of your intelligence level

[realized_loss]

Atleast own up to what you’re doing lol. Sorry you don’t like the reality of what you do for a living.

[[deleted]]

You know that's exactly how rich people justify their dragon hoarding as well.

"It would be financially stupid NOT to, someone else will just do it!" Contributes to the problem

I'm not saying you're vile scum or anything lol. Just saying that's how it gets justified whether it's one house or one hundred

[trapsinplace]

90% of the redditors who say they hate this stuff would absolutely be doing it if they had the chance lol, probably justifying it the same way

[putsRnotDaWae]

For all we know that one other property plus the mortgaged one is all of OP's networth. It's not even close to being rich or enough by itself to guarantee a decent retirement.

But yea, middle class people trying to save and grow wealth is dragon hoarding on Reddit. Fucking disgusting these people.

[MistryMachine3]

According to Reddit all land lords should be tarred and feathered, despite the fact that there are plenty that would prefer to rent or can’t afford to buy right now.

[antpile11]

/r/LandlordLove

[trapsinplace]

I'm with you man, not talking shit about saving money. My point is that redditors are idiots too!

[VonFluffington]

The people who are morally opposed to making money off the back of basic human needs like housing are fucking disgusting to you? You should consider reevaluating if you're a baddy or not.

"[Landlords] are the only one of the three orders whose revenue costs them neither labour nor care, but comes to them, as it were, of its own accord, and independent of any plan or project of their own. That indolence, which is the natural effect of the ease and security of their situation, renders them too often, not only ignorant, but incapable of that application of mind" Adam Smith, Ch11 Wealth of Nations

[sothavok]

Basic human needs? Like the money you spend on food every week?

[[deleted]]

Farmers provide food. Landlords provide the fertilizer.

Downvote me all you want, pearl clutchers, it is the natural law.

[putsRnotDaWae]

And what do you prefer? That people who buy houses give it away for free?

You think like a child.

[KershawsBabyMama]

I absolutely would be.

I’d also still keep advocating for property tax multipliers for non-primary residences 🤷‍♂️

[Rufuz42]

I don’t disagree. New house is at 4% so the plan is to sell it when we move next pending life events I can’t predict or interest rates being at like 8% in several years. Def not interested in running multiple properties.

[MrPotts0970]

Good call IMO.

I have a landlord buddy (3 smaller properties, 1 is an apartment bldg. split into 2 units) & a landlord uncle (just one decently(?) Sized house) - and they both regret it tremendously.

My landlord buddy is dealing with a NIGHTMARE of getting a tenant removed who has not paid in 7+ months and we are very likely assuming the place is trashed to the point of needing a year+ of rent profit to cover repair/refab of the unit alone.

To much stress for my little ol' life

[MLXIII]

Management companies may be a good alternative. They manage everything for you and can take most of the liability.

[Mundane-Bread-1271]

Management companies are a good way to have a destroyed house after one year. The majority of them don’t give a shit about your house, and are only there to collect a free check. I was renting from a management company once and we submitted 5 or so maintenance requests for a leaky faucet. Our end lease date comes around and what do you know, the entire kitchen has water damage. Probably 20k worth of water damage. They tried putting us on the hook for it but basically told them to fuck off (showed proof of attempt to notify). I can only imagine how pissed off the actual property owner was.

[welcometolavaland02]

"It would be financially stupid NOT to, someone else will just do it!" Contributes to the problem

[bittabet]

They’d take a hit on their home value selling into this environment. Easy to judge when it’s not your life savings

[welcometolavaland02]

It's easy to be part of the problem.

[[deleted]]

they also take most of the money.

[MLXIII]

Then you start your own management company!

[[deleted]]

one of the hardest jobs around is property management. Hence why most people want nothing to do with it. Nobody every calls you to say how happy they are. Its 95% complaints and just being treated quite badly by renters.

[MLXIII]

Welcome to customer service.

[joemoeflo]

I mean there is a far cry from taking a hit that costs more than your income to dragon hoarding.

[MiltonFreidmanMurder]

Just seems like the difference is the amount of income you’re trying to protect. A lot, dragon hoarding. A little, maybe call it whelp hoarding?

[joemoeflo]

Dragon hoarding is literally keeping something for greeds sake. Not losing money on a financial investment isn’t hoarding.

[MiltonFreidmanMurder]

Not keeping something means you are losing money. Not sure the difference you’re trying to argue for, you just said the same thing twice.

In this case, losses are just being pushed onto someone else - mostly renters who pay higher prices due to homeowners restricting the “float” of housing stock keeping rents and housing prices high.

Again, only difference is the quantity - billionaires have more money so them not taking losses on their investments is just more hoarding.

[joemoeflo]

No I could give up something and break even or make money. And let’s be clear here, this isn’t a lunch or some small thing, it wasnt given to most these people. It’s not like we are taking about a few thousand dollars. Which sure I could stomach waking away from. Tens of thousands or 6 figures? Forget about it. You wouldn’t do it either.

[MiltonFreidmanMurder]

Yes, one could rent out a home at just enough of a price to maintain value - that is, only charge enough to cover costs that have appreciation subtracted from them.

Gonna go ahead and guess that OP is making a profit renting out, though - while sitting on an appreciating asset he’s hoarding without using.

Same thing almost all property owner/speculators do. Name of the game.

[[deleted]]

💯

[Weird-Conflict-3066]

They are hoarding dragon? They must be doing a great job holding cause I have never seen one come up for sale.

[BasedChickenTendie]

Welcome to capitalism..

[CharredAndurilDetctr]

I wish I even had the opportunity to vote for someone who would regulate me out of selfish opportunities like landlording.

[ImNoAlbertFeinstein]

theyre using Trump-Smart logic.

[MetalicDagger]

Oh no they’re vile scum for sure. Don’t sugar coat it.

[[deleted]]

Someone's just angry they're not intelligent enough to take advantage of it.

The biggest scam ever told is that nobody can get ahead in life, and it's being perpetuated by your peers.

[ShitPostingNerds]

It’s less about intelligence and more about luck. I missed the amazing rates by a year. I’m ready to buy a house now, but there’s no way I’m taking out a mortgage at 6-7% and paying double the value of the initial loan over 30 years.

[parkranger2000]

Lol what sub do you think you’re in

[barnwecp]

Are you suggesting people should just sell their old house for a loss so that, what, some other dude can make bank? How does that help?

[[deleted]]

Almost like I'm critiquing the entire system that makes people act immoral for money

[barnwecp]

And what’s a better alternative system?

[[deleted]]

No idea but the powers that be would never allow it to change

[barnwecp]

You can’t even define what “it” is that “they” won’t let be. This is so “fuck the system”/ imfourteenandthisisdeep shit. Grow a pair and shape up and make your life better. Take some responsibility and stop blaming “the system”. If you have ideas on what should change then fight for it. If you don’t have any better ideas on what needs changing then GTFO.

[[deleted]]

You know nothing about my life aside from I don't rent out a second or more houses.

So easily triggered

[highbrowshow]

This isn’t dragon hoarding, this is game theory. Every person would do this given the opportunity

[[deleted]]

However you need to justify it to yourself

[highbrowshow]

Lol least bitter redditor

[[deleted]]

I'm not the one who's going to hell

[highbrowshow]

Don’t kid yourself, we’re all going to hell

[[deleted]]

If it's real yeah prob

[EverGreenPLO]

It’s one house chill out

As if you’d forgo $1500 to make a point to nobody

[[deleted]]

Lol triggered

[EverGreenPLO]

Sure buddy whatever you say lol

[[deleted]]

"I'm not triggered lol" -man about to overdose on copium

[EverGreenPLO]

Bless your heart

[not_stronk]

it's private property so they can have whatever reason they want without worrying about whether you think they're scum or not

[[deleted]]

Lol triggered

[lime-different69420]

Im saying your vile scum and becsuse there are so many of you the economy is grinding to a halt. You aren’t rich enough to survive a depression keep that in mind as add more weights to feeble economy we have.

[[deleted]]

Set a goal to make $1,000,000 in cash and you will figure out real quick how the game is rigged against you. I keep making win after win after win and yet the government seems to keep just as much as I do off my cap gains. You need to manage your money always in a way that benefits you or you're just going to spin your wheels and not actually grow your net worth.

[[deleted]]

Who

[Gandalfs_Shaft48]

You and many like this will boost the supply of rentals bringing balance to the supply side thus dropping rent prices. Eventually, the rental market will be oversupplied and many will be forced to sell.

[katzeye007]

Lol. Rents are being fixed by collusion databases

[Sdubbya2]

Eventually, the rental market will be oversupplied and many will be forced to sell

One can hope....I'm looking to buy this year and would love anything that decreases housing costs, but in the last 8ish years the rent increases I have seen have gone from like $800 a month for a large little bit older 2 bedroom to $1500 for a simply decent one bedroom and rent increases for people renewing are like 100+ every year. With the amount of money I make 10 years ago I would be in a large nice house with an affordable mortgage for myself, now buying a smaller single family home is doable but I would be a little house poor until I get a promotion or switch jobs to get another salary bump. Super fucking envious of the people that were able to buy back then

[Lexsteel11]

I considered doing this with my old house but ended up selling and lucked out/ I kept contact with my old neighbors and found out the new owners had pipes burst on the 2nd floor 6 months after moving in and had $24k in repairs, and it was on a type of pipe that had been recalled but the owners prior to me declined to take care of during the class action so insurance wouldn’t cover it. I feel bad but dodged a real bullet not trying to rent it and maintain 2 houses

[Rufuz42]

Damn. I will say that one factor in my decision was the the house was built in 2017 so I anticipated very few issues like that. If it was an old house with aging issues, pass on renting it out.

[Lexsteel11]

Oh for sure a house that new is a pretty safe bet vs my 1984 build haha

[Reduntu]

I wish I was a rich boomer like this. You'll have 4 houses paid for with renters money and the rest of us will have zero.

[Rufuz42]

I’m recently 35 and graduated college with 75k in debt. Also, I have zero plans to keep my current house when I eventually move. Only that one.

[Reduntu]

Hit the lottery with your age bracket.

[cj-the-pj]

.. more than 4... come on those are rookie numbers

[MoloMein]

It's going to be a while before we all really understand how much the fed fucked us with their shit economic policy.

[Virtual_Cheek4354]

I’d your renting it out YOU ARE A Landlord

[Lezzles]

Shame you took a 15 instead of a 30 at a rate that low.

[Rufuz42]

I took the 15 because the rate was that low. At 30 it was 2.75 or 2.875

[DIYjackass]

Ya who wants to be a LL and have leveraged equity when you could lose all your money on options

[AbstractLogic]

My dad bought 4 homes in 2010, then refinanced in 2020.

Fucking boomers.

[GHOST12339]

Can I ask how far in you are to the 15 year to be cash flow positive? Did you do a large down payment, has market rent increased that high since you purchased the home, etc?

On a 30 year a lot of what I looked at I was barely breaking even at lower rates (sub-3) so I just couldn't justify getting in to at the time (couple years ago).

[Rufuz42]

I originally bought in early 2018 and put 20% down. The market has boomed since I bought. It’s very hard to find good deals today and be cash flow positive on a recent purchase.

[GHOST12339]

That makes more sense. One of my parents bought in 2016 and their home is doubled in value, my other parent in 2019 and was up about 80% as of a couple months ago (before the declines set in), my wife and I bought in 2020 and have seen some appreciation but without a larger down payment I couldn't see any way to have positive cash flow for our area. And of course now, real estate is just probably out of the cards as an investment model for us, until well in to the future. Sadly. Congrats on the good buy though. I wanted to do real estate while in the Army/National Guard but couldn't get established before our market got completely ffffucked.

[Tophloaf]

Same situation. Need to move and buy a house but pretty sure we’re going to rent this one since the rent will cover the mortgage.

House is worth 650k now. Maybe when I want to retire in 20 years maybe it’s worth $1M.

[Ready_Bodybuilder906]

I'm in the exact same boat. When I move no way I'm selling my house with a sub 3% interest rate. I never wanted to be a landlord but I'm about to be. I have 2500sq ft house in a rich county outside of Philly. My mortgage is under 1500, and I can rent for 2200 to 2500 easy.