List, Sell, Rent, decisions, decisions - Posted by Tony

Real Estate Investing
1

Posted by Berno on August 01, 2006 at 14:11:16:

Well, coming away with 2 or 3k isn’t very exciting I guess. The question is, how much could you rent your home for? If you can make it cash flow, and there is a good market of potential renters, the return on that 2-3k you have tied up in the property would be pretty good.

If your house payment (P+I), taxes, insurance, maintenance and vacancy allowance are added up and you subtract it from what you have coming in a month, you are looking for a positive number. Let’s say you clear $100 after that, making it $1200/year. That’s a pretty good ROI on the 2-3k you left in.

On the flip side, being a landlord isn’t the most fun thing I’ve ever done. Boy, I have stories.

Just some things to think about. Good luck!

-Berno

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List, Sell, Rent, decisions, decisions - Posted by Tony

Posted by Tony on August 01, 2006 at 12:58:10:

Option #1 List my house and sell it, after expenses I am looking at maybe $2,000 or $3,000 at closing if i am lucky.

Option #2 Sell on Land Contract, get a down payment from buyers, hope they keep making payments, balloon payment at year three.

Option #3 Rent it, hope they keep making payments.

Any Ideas, Thoughts?

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Re: List, Sell, Rent, decisions, decisions - Posted by Mark (SDCA)

Posted by Mark (SDCA) on August 02, 2006 at 11:07:37:

I am biased, certainly but…

Option #3 Rent it, hope they keep making payments.