Updated over 7 years ago on . Most recent reply
Decision Point, sell or keep my negative cash flow property
Well, after re-analyzing my rental property in AZ, I am debating selling. I purchased it with a VA loan (I put very little down) as I was planning on living in it for a long time. Anyway, my life situation took me from it.
I am losing about $250/month once considering CapEx/repairs/vacancy savings, prop manager. i have renters in there and house is in good shape but as we all know, something could go down at any time.
loan is at 2.75%, so, I would lose that....which amatorizes quick.
Anyone interested in rationalizing keeping or selling? Should I hold onto and suck up a loss??? If I sold it today, I would not make much equity at all after realtor commissions...maybe a couple grand, so is it worth it, or hold onto it and suck up the losses???
Anything helps.
Most Popular Reply
How much is that sweet mortgage getting paid down each month? If you lose $250 cash per month, but pay off $2K in mortgage principal, that's a good deal for you overall, as long as you can handle the cash outflow out of pocket long term.