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Updated almost 8 years ago on . Most recent reply
Should I sell or not ?
I have an older mobile home on its own property in a small town with a newer detached 2 car garage on it
The land is worth betwtween 25 and 35 thousand
the garage is worth 10- 15 thousand
The trailer has little value but is very livable 1000 - 5000 mid 70's
the tennant is paying $750.00 a month
taxes are 900 a year
insurance is 900 a year
I payed 60 thousand 1 year ago but included all contents of previous owner
I sold all contents for about 6 thousand
The tennant wants to purchase the property with me holding the mortgage
I said would sell for 75 thousand
5 thousand down at 9 percent interest with a two year balloon
Should i keep renting it or should I sell ?