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Updated almost 8 years ago on . Most recent reply

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2
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Matthew Ryan
  • Elkhorn, NE
0
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2
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Investment property across country (NJ). Want options

Matthew Ryan
  • Elkhorn, NE
Posted

Hi, I bought a 1 bdrm condo in southern NJ for $120k in 2006. I moved across the country in 2014 to further my career and want to know what I can do to get this albatross off my ledger. I just bought a house in my new location for $281K. The property has been rentable at a breakeven rate, but property managers in the area that aren't terrible are hard to come by. I currently owe $61K and the Zillow Zestimate just crossed $70K for the first time in years. A couple of condos in the complex just sold for $69k, but they had renovations and I don't really have the free money to upgrade the property (and the fiance would kill me if I were spending more money on that condo than my house). I'm not really in immediate financial distress, but I may be if I can't unload this place before repair bills start coming in. So what are my options here?

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