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Updated almost 9 years ago,
rent out my condo or sell
Anyone have some advice for me?
I bought a condo as my primary residence in 2013. 270k 4.5% 30yr fixed. I never moved in - my mom became ill and I'm taking care of her in her home.
My condo was vacant for a while. I rented it out with a property manager and had a very bad experience - he only stayed 2 months and she let him out of the rental agreement. I found a tenant on my own and after 7 months has informed me he is leaving. Month to month contract.
I could sell it. This could be a good time and I wouldn't have the hassle of finding a tenant, et. Is it worth keeping and refinancing as my primary residence? If I refinance would it be based on the price I paid or what it's worth now? (it's worth about 350K)
I owe 180k.
I don't know anything about finance (I'm an English teacher) so any help is appreciated.
Thank you
mm