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Updated over 6 years ago,

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1
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Aaron Pilkington
  • Raeford, NC
0
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Using former primary residence as a rental

Aaron Pilkington
  • Raeford, NC
Posted

To keep a long story short the wife and I bought a new house and our old house is in a very cold market and it would sit on the market for a while. So, we decided to rent it out and we got just enough rent to cover the mortgage and that number is market for the area maybe a bit over market. The mortgage payment is 899 and the rent I am getting is 900 a month.

My current mortgage has 12 years left and I have about 25K of equity. What advice do you have to get this property to cash flow?

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