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Updated almost 10 years ago,

User Stats

5
Posts
1
Votes
Evan Chance
  • Driftwood, TX
1
Votes |
5
Posts

1% guidline vs mortgage payment

Evan Chance
  • Driftwood, TX
Posted

I have a property for lease in a community that doesn't seem to be able to support the monthly rental for the 1% guideline. As such, I end up making up the difference each month, about $200.

I'm of the mindset that at least 85% of my mortgage is being paid and I've not missed a payment, so this is better than foreclosure.

At the same time, i am open to other ideas as how to effectively find the right tenant. Property mgmt companies don't have a very good reputation, but could give the house more exposure...I had less than ideal service from the last one I used.

My property was built in 2008, is 4/2/2 on 1/3 fenced acre at the end of a culdesac, very quiet and quaint neghborhood, an A neighborhood. Most other houses nearby are 3/2/2 and rent for 11-1200. 

Feedback welcome and insights are appreciated.

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