Author Topic: FiRED: Sell my house or Rent it out?  (Read 1448 times)

FIREin2018

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FiRED: Sell my house or Rent it out?
« on: August 14, 2019, 10:30:26 PM »
single, no kids, Retired at age 48 last year.

owning a house is crimping my gambling traveling lifestyle. (mowing grass, picking up mail,etc)
i've  been on a casino gambling spree hopping from one casino hotel to another. then go back home.
rinse/repeat.

i mainly play poker cash game which i am slightly better than the people at my playing level. nowhere near professional.
according to my records for the past year, i make $15/hr after expenses (like discounted food at the food court).
$15/hr = $30k/yr if full time but i barely do 1/3 that since i play about 15hrs/week. rest of the time i play slots/table games or just other non-productive things like sleep or people watch.
and i dont need the $. i just find poker enjoyable.

it's been a year and im confident to say that my house is  slowing me down.
my home state doesnt allow poker so i have to travel to atlantic city or PA or MD. (i get free rooms for a few days)

now the question is to rent or sell my house?
if i rent, how to find good trustworthy tennants?
if i sell, i estimate i have to put $20k worth of repairs and upgrades. (zillow says my house is worth $375k.)

Suggestions?
« Last Edit: August 14, 2019, 11:29:46 PM by FIREin2018? »

FIREin2018

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Re: FiRED: Sell my house or Rent it out?
« Reply #1 on: August 14, 2019, 11:30:22 PM »
Can you get a roommate? That way you can retain your home base to use when you want bit have someone there to watch the place and pay you.
again, how do i find such a trustworthy individual???

wespellitmoustache

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Re: FiRED: Sell my house or Rent it out?
« Reply #2 on: August 15, 2019, 08:10:29 AM »
What's the projected rental income you'd earn from your house?

Do you want to be a landlord?

If your house was for sale at it's current value, would you buy it as an investment?

PJC74

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Re: FiRED: Sell my house or Rent it out?
« Reply #3 on: August 16, 2019, 08:47:33 AM »
Poker player here since late 90's. I have nothing to add except I hope to be doing the same thing in ER, with a little surfing mixed in too :) Congrats on the ER and doing what you enjoy!

A Fella from Stella

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Re: FiRED: Sell my house or Rent it out?
« Reply #4 on: August 16, 2019, 12:04:12 PM »
If you love the house, keep it, but hire landscapers, etc.

If it's just a place for you to keep your stuff, sell it and go through all that stuff.

If you've always wanted to rent out a place, ten this is your opportunity to be a landlord and check it out.

Hope this helps.