All Forum Posts by: Shay Burke

I forgot to mention. The property in question is paid for free and clear and I don't currently have mortgage. The property is sitting vacant right now so I want to act fast. Thanks again.

Hello,

I purchased a fixer upper a few years ago for around 10K at an auction.  I invested about 25K back into it and did most of the work myself and it's appraised at around 65K now. I live in a college town and my fixer upper is within walking distance to campus so I'm sure students would love to rent it. Here is my problem. I am about 40K combined in student loan/vehicle/random credit card debt. Should I just sell the house and become essential debt free and try to do another project or cash flow the property as a rental? A rental comparable in that area would be about $700.00 a month in rental income. Everything in the home is brand new so getting a renter in there has me hesitant as well too. I would love to get some input. Thanks.