Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
That will bump it only if he is increasing rent as well. If not, it actually reduces his rate of return since it is increasing the amount invested (principle) with the same amount of return.
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
I agree he should keep it but just wanted to point that you're not factoring the loan principal being paid so the theoretical return is higher than 2.7%.
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
2.7% isn't too hot, you should be able to do much better. Plus owning a house is full of risk and frustration. 2.7% profit isn't worth the hassles involved with tenants... even if you have someone...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
You are getting a 2.7% return on your money. $1416/year on $51,000. This is better than the bank. You also get the tax deduction for the mortgage interest. If you sell you will pay capital gains tax...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
:iagree:
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
If I had a low cost property manager and was still making money, albeit a low amount, I would continue renting it.
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
I meant at the current moment if OP were to sell it at around 135K which he owes 84K I don't see why he couldn't end with any remaining profit at the end. Either way renting just seems like a risky...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
Actually he could loose money selling if the house hasn't appreciated much.
My 2 cents worth would be to keep it. There's no money to be made or taxes saved by selling it now and it seems...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
Your better off selling it as some mentioned if everything goes smooth you will be barily evening rent=mortgage or having to pay a little out of pocket. However if you get a bad tenant or you need...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
All things considered, if the tenant at least pays for your cost, you're getting equity every month. Another consideration is - could you carry the costs if you didn't have a tenant for X months. ...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
It isn't. This is only slight more than I paid in 2008.
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
If the house has appreciated significantly since you've bought, I agree with this advice.
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
Sell. Take the capital gains exclusion while you can.
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
Which is appropriate. You are playing the long game on that house. It really ONLY comes down to your cash needs and ability to maintain the rental.
If you don't need the cash now, continue renting...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
I have been taking into account that I am make money each month when they are paying down my principle.
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
your numbers are pretty bad. How are you saving for any repairs that you would need? Your barely clearing your payment and if the ac craps out or you have a bad tenant you aren't going to be able to...
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
would you buy it for 135k to rent out?
if not, sell it
Sell or Rent?
Expired
Thread created 06-26-2014 by jrandkelly
+1 Score
17 Replies
2,750 Views
I am looking for some sound financial advice on my situation. I moved to another state a couple years ago and have been renting my house out during that time. The family in there now is moving out...
