Should I rent out or sell my condo

2 Replies

I bought my condo 18 years ago for 170,000.  It's worth about 270,000 now.  I have 43,000 mortgage left.  I can rent it out for about 1,600/month.  My mortgage and interest is 680/month and taxes are 400/month. 

There is going to be a special assessment soon of about 2,000 + 2 years of an additional 150/month.

I can't deal with tenants calling me constantly with every little thing that is wrong (my pipes tend to clog) so rental would be contingent on tenant handling these things on their own.

If I do sell, I would put the money in a mutual fund.

What do you think?

Sell this it doesn't make a good rental at $1,600/month with a value of $270k.

Plus there's a special assessment coming up and you don't want to be a landlord.

@Teri N. Based on what you've said, I would sell. Doesn't sound like you want to be a landlord. You might consider seller financing because you avoid the tenants and toilets kind of thing. However, you can still run into issues if you finance the wrong buyer and they stop paying. It would be a lot easier to just sell, put it into your mutual funds, and not worry about it. Just my opinion....