Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago,

User Stats

12
Posts
3
Votes
Derek Markowicz
  • Tinley Park, IL
3
Votes |
12
Posts

Accidental landlord not cash flowing

Derek Markowicz
  • Tinley Park, IL
Posted
Hello I am an accidental landlord need advice on how to proceed. I bought a house as a primary residence and rented a room to a friend. Ended up moving into my girlfriend's place and had a friend of the previous friend also move in. I am collecting 900 dollars a month which I originally thought was great. They are paying the majority of my mortgage/tax/insurance (1,056 a month). Now after finding BP I realize I am negative cash flowing. Market research has shown I could possibly rent for about 1400-1500 a month, I bought the property for 111,000 now worth conservative 140,000. My question is now should I sell the property and try to find a property closer to the 2% rule, or find tenants that could afford the average market rate? Thanks, Derek.

Loading replies...