@Scott Anderson , how are you getting a $315k house for $190k that needs no renovation? Please explain.
I would say you can achieve a much higher C on C return if you find another investment or leverage another source of capital. If you have 190k sitting around I am sure a hard money lender would be more than willing to partner especially if it is that good of a deal! Good Luck :)
Good morning. I couldn't figure out how to add any notes when I did the shared the analysis yesterday. This is my primary residence, I have a $190K balance on the 30-yr mortgage and I'm trying to decide if I should hold & rent vs. selling. The house should fetch around $315k if I sell. So using the Rental calculator I'm having trouble figuring out how represent this correctly - it seems to be setup only assuming you are purchasing the property (rather than currently owning). I'm sure I'm doing something wrong.
You should probably sell, @Scott Anderson . I think you might just break even, but return on $100k+ of equity (ROE) is going to be dismal. Sell and redeploy that capital.