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Updated about 9 years ago,

Franz Fernanez's profile image
Franz Fernanez's profile image
Franz Fernanez
  • from Scottsdale, Arizona
  • Member since Oct 23, 2015
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Franz Fernanez's profile image
Franz Fernanez's profile image
Franz Fernanez
  • from Scottsdale, Arizona
  • Member since Oct 23, 2015
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Franz Fernanez
  • Scottsdale, AZ
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Buying & Selling Real Estate

Rent or Sell?

Franz Fernanez
  • Scottsdale, AZ
Posted

Hi. I currently am renting my house in Illinois and moved out to Arizona. I still owe 145K on the mortgage with 15 years to go on a 20 year loan. It currently appraises at 260-270K, I am renting the property for $1500. After all the expenses, I have a negative cash flow of about $300. Would refinancing to a 30 year loan and building equity make sense? 

Thanks!

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