My husband an I have bought two properties in Las Vegas in the last 8 months.
Is “Rented” 1 br condo- we are refinancing to get rid of PMI and lower payment to make a modest profit.
3 br townhouse we live in currently. (sell, lease and refinance)
I would in some ways rather stay put becuase we have fixed this place up with 10 k in improvements. We have @ 60- 70k in equity and we could way with @ 25k in profit if we sell in the near future.
But, I am also attracted to buying something else so what should we do with property 2? If we rent our current morgage will allow us to do break even and possibly sell the place in a year or two or we could keep the place as an invest but, our equity is stuck if we do not refinance?
If anyone knows the Vegas Market, my husband’s fear is that single family home prices are getting too high and he wants to buy a starter home to leverage for later years… We are a you couple w/ no kid and combined income of over 125k.