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Updated 8 months ago,
SFH Rental Strategies or Exit Strategies
Hello, BP family! We have run into a dilemma. Our tenant is breaking the lease early. We are in the 80925 area code of Colorado Springs close to Peterson SFB, Shriever SFB, and Fort Carson. Home is a 3700SF 5/3 Ranch with basement. Current remaining mortgage is 528k @4.375 VA.
Some of the options include:
Re-rent at a $600+ negative cash flow.
Rent by room with all utilities included for $700-900 per room and $1000-1200 for the primary. ($3800-4800)
Fully furnished rental. I'm new to this concept, but I've heard insurances will pay recently for displaced families.
Traditional Sale in line with market. We're waiting on an appraisal since there are no true comps in the area that have sold recently.
Creative finance sale. Still working on terms and waiting on appraisal.
Any information is welcome and greatly appreciated!