Originally Posted by
myrkridia
I hear what you're saying. It's the rate in combination with the increased price of housing. Renting out my current house from another state just sounds like a giant PITA I would rather live without, not to mention my portfolio would be almost entirely real estate between two houses once we finally buy wherever we decide to live.
A 6% interest rate is high compared to what we locked into, but it's not that high from a broader historical perspective. What's tough is 6% on more than double the house.
Totally understand, think I was misunderstood, in fact I was stating is sell current house, use all the equity to mitigate new loan to value as much as possible on new home and have built in equity on new house from day one. Then take best rate you can get and IF rates fall in the future, refinance.
Long distance landlord can be a PITA and generally the juice is not worth the squeeze especially if you have high income as tax law prevents taking losses on current taxes.