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Masoud Shiehmorteza
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sell below the market vs keep it as rental

Posted

Hi,
I have an out of state rental property in Albuquerque, NM. My monthly mortgage is above the current rent ( ~3000 mortgages vs ~2000 rent). I manage the property remotely. My tenant will move this month. The estimate selling market for the house is about 410k. I was wondering if I should put the house in the market for even $20k below the market to sell asap or try to find another tenant and resent the house. The interest rate for my mortgage is pretty low ( 3.37) and I don't think refinancing is gonna make a big difference in my mortgage.

Thank you very much,

Stay safe and well.
 

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2,320
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Bud Gaffney
  • Rental Property Investor
  • Boston, MA
1,140
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Bud Gaffney
  • Rental Property Investor
  • Boston, MA
Replied

I would sell it ASAP if I was in your position. May I ask how this happened?

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