Alright so I’ve lived at this house in NC for 6 years and will be both commissioning and PCS’ing to Mississippi in summer 2025. Curious on some opinions if I should just sell or see if I can rent, any thoughts are appreciated!
- House is worth ~$190k
- purchased for $110k owe $90k now
- rent in the area is $1500/mo
- my mortgage is $650 + $150 HOA (I know)
With my new larger paycheck I would normally not have to think about this as renting would be very sensible but my issue is debt from school and a divorce.
Debt:
– $40,000 loan at 5% interest
– $12,000 credit debt (0% APR until 2026)
– $8,000 remaining on car ($400/mo)
Please let me know any thoughts on my situation and any more info you may need to help! Thanks to anyone in advance!
Sell my house or rent it after PCS?
byu/zackh912 inMilitaryFinance
Posted by zackh912
8 Comments
Rent
Do you want to be a landlord? Are you prepared to have a tenant destroy your house financially?
If yes – I’d hold onto it for a year or two and then decide if you’d like to keep it as a rental.
Rent it, as long as you can continue paying down your debts and pay off your credit card by 2026
[deleted]
Rent rent rent
A $700 cashflow is nice. Minus the property management fee and tenant maint cost.
Sell, NC has some of the worst rental laws/protections for property owners. You could just choose to exclusively rent to other military.
Just be advised if your rent what could happen, I’ll give you the summary of a situation I’m dealing with right now.
Got a tenant in in late 2023. First 6 months all good then started paying late rent almost every month. Ended up moving out without telling my property manager and I get a call from the local sheriff’s office there was abandon animals on the property and they need in. Property manager goes there 4 hours later to find deceased animals. Property manager says the left all sorts of junk and repairs needed. Would take 2 weeks to fix. It is currently 3 months later and I fired my property manager yesterday because repairs aren’t getting done/ wouldn’t do her job after a tree hit the house and knocked out power. I am now using a week of my leave to travel 1000 miles from where I am stationed to go repair my property and meet with a realtor to sell it.
Moral of the story if you rent, hire a good and reputable property manager that communicates really well. Mine did not.