Updated almost 12 years ago on . Most recent reply
Any suggestions?
I have a mortgage on a rental property that has been vacant going on sixty days. The tennant moved and left plenty of work for me to do:painting,new kitchen floor,replace railings,and general clean up.The property is an hour and half away from where i live. Oh the tennant also took my stove and dishwasher from the property! I had this property since 2004 and its decent! In Febuary i'll be two months behind. Should i spend the money to fix it and rent it again,short sale,or give it back to the bank? Help!!!!
Most Popular Reply
You've had this property for 10 years and you didn't have enough reserves to cover a two month vacancy without missing the mortgage payments?
Okay...
- How much is the house worth?
- How much to you owe?
- What are your monthly mortgage payments?
- What is the cost of the work needed to make it rent ready?
- What is the market rent in that area for similar houses?