Not right property as rental

There might be multiple answers to your questions. However one thing for sure is that you don't want to rent this house for the following reason:

1) $2200 rent vs. $400k+ property is not right ratio

2) recurring cost is high such as $430 monthly for property tax and insurance. This is not good for rental property.

3) It will take a long time to appreciate based on your current assessment unless you anticipate much rapid recovery rate in your area.

- question is: how long is it going to take to get this property appreciated $90k?

4) More importantly, it's hard to convert rental back to owner occupied house if you want to sell again:

- It will be vacated for several months without income.

- It will take major effor to renovate to restore the condition.

Sometimes, you need to take loss and move on. With freed up $150k cash, I believe you can do much better on other rental properties with high value and low cost.

所有跟帖： 

• I agree with you every single word -Iamcc- ♀ (1054 bytes) () 12/20/2012 postreply 21:38:03

• Further suggestions -Slothehz002- ♂ (703 bytes) () 12/21/2012 postreply 08:43:06