@Kyle Tipton It is in Jacksonville NC. And I emailed my property manager to see if they can list it to see how much I can get out of it
@Michael Ritrovato . Okay. My rental is in Newport. Well if you need a realtor, I have some good ones there that I’ve known for a while. Once you hear back from your PM, send me a msg if you want their contact info or have any questions. I just moved from there in March.
Not sure what your current rate is but have you looked at refinancing to lower your monthly mortgage and get more cashflow?
The captain always goes down with the ship!!!! Lol jk. Sell it, get your equity, and reinvest it into something better. Or just hold it forever!
If you've had it for 12 years and only have $30K in equity, I'd sell it. I would have expected more since you've been paying the mortgage for 12 years.
@Allan C. Thanks for the expert advice
@Wesley I. I have looked at a refi and no one can beat the VA loan rate of 4%
Is $822/mo just principal and interest or PITI?
It seems like it doesn’t have even 1% Rent/price.
You have bought it in 2007 - on the top of the market.
That's why Rent is barely covers the mortgage and don't get any reserves for CapEx, maintenance, vacancies.
You need to sell it
@Irina Belkofer thanks for your advice. Yeah I sent my PM a message to list it for sale
After 6% commission and x% transfer tax, how much equity is really left?