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What would you do if buying new 1.2M home on $400k HHI?

Option 1: rent out current home for $1,400 profit/month and take out $900k mortgage for new home.

Option 2: sell current home and take out $300k mortgage for new home

Assume that option 1 is doable (obviously tighter than option 2) and would cost around 30-35% of monthly take home

I like current home and would like to keep it due to personal reasons and also have wanted to get into owning a rental property.

submitted by /u/superman1020
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1ela2mf/what_would_you_do_if_buying_new_12m_home_on_400k/
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