All Forum Posts by: Don Wyllie

@Tchaka Owen - I don't know if refinancing would be worthwhile. Interest rate is 5%, insurance about $1000 and taxes around $4,000 (high tax midwest). I'm just trying to wrap my head around the numbers, maybe re frame this decision in a smarter way.

@Reynard Azada - Rent will go up little by little, but there is a lot of competition in the neighborhood, rent is about $1 per square foot right now in this market.

Thanks for the insight Jaysen - I see what you mean with capex and cashflow. What about the loan being paid down by the tenants? It's equal to about $400/month, I just won't realize those $$ until I sell. Or do investors not typically look at that?

Hi Everyone, this is my first post here so please bear with me. I'm always in awe of the level of detail and information that BP contains, so I hope you guys can help with figuring out the numbers.

I am trying to figure out whether to sell my rental property or to keep it. This is a property that I have been paying down since 2007, I originally purchased it to live in one half and rent out the other, but then I ended up moving away and now it's just a rental. Thinking about selling to cash out, but am also concerned that it may be worth just keeping. The main motivator to sell is that I don't want to have to be "on call" all the time. If I were to keep the property, I would hire property management for between 7 and 10% fee. Here are the details:

Current market value is approximately $165K.

Outstanding loan amount $118K.

$1600/mo rent total.

~5% vacancy rate.

Mortgage/taxes/insurance cost $1250/mo.

Tenants pay electric, heat, and water.

New roof 2016, but the propterty will need maybe $5K of work in the next 5 years.

Duplex is in an "A" neighborhood, but appreciation has still been slow.

Currently, the loan is being paid off about $5K per year.

Please, any advice or analysis would be greatly appreciated!