Updated about 3 hours ago on . Most recent reply
Should I Sell This Rental Property?
Should I sell this rental property? The main reason I want to hang onto it is because it has a sub-3% interest rate on the mortgage. The cash flow is non-existent and it's a townhome/condo that I feel won't appreciate. The property is very nice and in a nice neighborhood so there's no money to be made from upgrading. The current rent is at market rate. My main concern is that there are thousands of new luxury apartment units around my unit; so there's lots of competition that I feel will keep cash flow low long-term. I don't want to regret giving up this unit at this low rate but I guess it's looking like it will never be profitable until it's paid off? And that's a long way off. Am I missing anything. Thanks so much in advance!