All Forum Posts by: Eric Ireland

Anything current planned?

William Collins Yes I have considered the expenses to do a quick reno. The tenant has been great and been there two years. She went from a year lease to a month to month when that expired so I only need to give 30 days. Im looking at about $8k to get it turn key for a new buyer and all that has been factored in.

It wasn't an appreciation play, it was my primary residence that turned into a rental due to relocation.

Thanks for the replies and the welcome. The $100k number does include the losses as well as the $4100 in maintenance and management over the last couple years. Its not an exact number as the market will dictate the final selling price, but I know the area very well and its a conservative but relatively solid estimate.

If the market hadn't spiked like it has the last 6-9 months here, I wouldn't be headed down this road as absorbing the loss isn't an issue. Knowing the area and the coming inflation, I don't see the values getting much higher and I do feel we could be in a small bubble here.

It seems like an obvious decision, but thought I'd throw it out there to you guys and gals for opinions.

I purchased a house here in southern California in 2010 as my primary residence and it became a rental a year later due to relocation. I currently lose about $350 month on it and have been since it became a rental. The market here has spiked considerably and will continue rising into the summer. I can walk away with about $100k in profit from it and I do feel the neighborhood is getting maxed out.

Is there any reason to keep it? I would be taking the proceeds and investing them into a couple buy and holds out of state in a much more favorable cash flow market.