Hey y'all, I have a net neutral investment condo (rent=expenses) which just became FHA approved. Does it make sense to sell while its FHA approved? can I expect a better market value as a result of it being net neutral ?
While we are on the topic, my condo is net neutral because its a 15 yr loan and it keeps my taxes low. Lately, I have been wondering if it would be better for me to refinance as a 30 yr loan and allow for some cash flow. Thoughts? Pros/cons from the experienced folks?
Id let a couple other sales happen, then consider selling. FHA approved should push the values upward.
How far into the loan are you? I prefer 30 years to maximize flexibility, but the 15 year note certainly helps you build equity a lot quicker.