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Updated 3 months ago, 09/26/2024
When to sell a bad rental
I have a rental where market rent for this SFR is around $2000/mo. It's been vacant since June. That's puts it vacant for about 4 months now. I started advertising it at $2100 and steadily lowered it to now $1700. I've gotten a few bites and some apps but mostly dead beats with evictions and bad rental history. Should I keep going lower or should I sell. It's all paid off but rates are high so I'm not thinking re-fi at this time. Purchase price was around 215K with rehab at about 25K. It's probably worth about 290K now. It was rented for 3 years for $2150 and then became vacant 4 months ago. Thoughts??? Thanks!