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Updated almost 8 years ago on . Most recent reply

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0
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Bryan Robinson
  • Investor
  • Stewiacke, NS
0
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1
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Should I sell or not ?

Bryan Robinson
  • Investor
  • Stewiacke, NS
Posted

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 ?

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