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Updated about 1 year ago on . Most recent reply

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11
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6
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Gina Huerta
6
Votes |
11
Posts

Worth it to hold?

Gina Huerta
Posted

We just bought a duplex in July. We are renting out 1 half, and living in the other. When we got the tenant, the amount was good. They just hiked our taxes and I fear rather rent amount just won't cut it anymore. We just signed a new lease with them and the new mortgage payment mad eits surprise debut a month after renewal. Because of location, population, etc, I don't foresee being able to raise rent much more. She's paying $1300 right now.  It's a 3/2.5, 1500 Sq ft. The market here doesn't have high rent prices. Not much equity in it. Do I cut my losses and sell or hold and pay a few hundred out if pocket? 

When we eventually move out and rent to another on our side, it won't cash flow. It'll be a couple hundred negative. Advice Is much appreciated. First rental property and still learning.

Most Popular Reply

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667
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490
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Malcomb Stapel
  • Investor
  • Topeka, KS
490
Votes |
667
Posts
Malcomb Stapel
  • Investor
  • Topeka, KS
Replied

@Gina Huerta  if it's not cash flowing now and is never going to be, it's probably time to let it go. However, consider that they are making part of your monthly payment, so if you sell, you may be out even more a month if your paying for a single family home. 

  • Malcomb Stapel
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