Updated almost 9 years ago on . Most recent reply
What's the best play?
My brother is in a pretty good spot on his first condo. He bought it as a short sale after the crash for about ~$65k and currently owes about ~$55k. He recently bought a new house with plans to sell the condo afterward, but is now deciding whether to turn it into a rental.
Comps on the condo: ~$110k
His mortgage payment with HOA ($150) are $750
Rental comps for this neighborhood: $950-$1k
My question: What are his best refi options to turn this into a great rental?