Selling in AZ?

Question

I have a rental that has been, a little money pit. I want to sell it. What do you think? I know the market sucks (in Arizona)right now, but the cost of this rental is hurting me. I have other rentals doing much better. Has anyone tried one of those "skip the realtor" sites? I don't want to make any more mistakes with this house. But I do want to get rid of it. It's in decent shape now.

Any help would be appreciated, I am still a "young investor( my 3rd yr)".
thanks,
Chuck

Account Closed · Answer

what part of AZ are you in? How's the RE market there otherwise?

N/A N/A · Answer

Yea thought so.  Has anyone tried one of those "skip the realtor" sites, to avoid commission?  I don't want to make anymore mistakes with this house.

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its in Chandler AZ the market is slooowww. refi- is not possible, there isn't enough equity in it.

Joshua D. · Answer

You're negative $700 a month and it is fully rented?  Time to cut your losses.

N/A N/A · Answer

Would a refinance help?  What did you pay and when?  I think I would just dump it and move on if I could

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Hey, Your the main dude!  Great site Joshua! Congrats on your success!  Thanks for making it easy to get good real estate info!

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the property is not cash flow positive -700 monthly. is the biggest reason. I didn't get a good mortgage on it. It's worth about 260k right now. I already spent 8k in repairs as well.  I do have steady tenants leased it is leased until Oct.

Joshua D. · Answer

Why is the property a money pit?  Is it cash-flow positive??  Are you overwhealmed with repairs?  Are you having a tough time keeping tenants?

Unless we have more information, it is hard to judge what to tell you.  Give us a bit more information on the situation.