Relocating, what to do with home?

[_Charles_]

I got a great job offer in denver, and I am at an impass here.

I have a home in Florida, but in the current market, it has little to no equity (after realtor fees).

Should I just rent it out (possibly taking a small loss monthly), and wait for the market to change? I can afford to loose a few hundred each month (maybe I would break even).

If I did rent it, what would I need to do to get a new house in denver?

Charles

[_Charles_]

I guess a should also ask if anybody has ever utilized the IRS publication 535, "Not-for-Profit Activities" in renting a home

[Strangeholliday]

Ya I would consider renting it out, even if your negative monthly. When you get your new home in denver, you'll need to provide your rental agreement so that your debt won't look so high, Who knows maybe in 5 years after renting this place out, the market will be better then and you can sell for a profit.

[_Charles_]

The best part about renting is that a long-time trusted friend and his family is a possible renter. He knows how to take care of things, and he has house-sat for me whenever we go on vacation. I will have to take a slight loss to rent it to him though, but I've lived in this house since I was in 5th grade (1984), and If I ever decide to come back (if denver doesn't work out), this is where I would want to live.

Charles

[nipster]

If you can sell it at this point and break even, I would jump at it.

I am renting my old house and its a pain in the ass, even with reliable tennents. Shit always breaks (unless you have a new house) and being several thousands of miles away, you cant just run over and fix it, you have to hire somoeone for big $$ to fix it.

Dont think equity at this point, as long as you dont end up way behind on it, sell it.

Unless you think you may end up coming back

[Joe]

Find a good management company in the area.

Then again, it depends on the size of your home, the price of the mortgage on the house and the rental market for the area.

Renting is a hassle if you don't know what to expect before "jumping in". Otherwise, I'd say it isn't to bad...

[JuicedSS262]

Very similar situation my friend is in. Just got a great job opportunity in Ft Collins Colorado, and moved out there. He has his home up for sale and did so as soon as he took the job. Here's the kicker though,, his new company is paying his rent for the place in Colorado for 6 months. My concern is that he does not sell in that time period, and then what.

[corey r.]

Very similar situation my friend is in. Just got a great job opportunity in Ft Collins Colorado, and moved out there. He has his home up for sale and did so as soon as he took the job. Here's the kicker though,, his new company is paying his rent for the place in Colorado for 6 months. My concern is that he does not sell in that time period, and then what.

I work in Orlando and rent a place here so I dont have drive back an forth. I still have my house in Tampa that Im paying a mortgage on. Its not that bad. I found this place on craigs list.