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Updated about 9 years ago,

User Stats

6
Posts
2
Votes
Mike McConnell
  • Investor
  • Kennesaw, GA
2
Votes |
6
Posts

$850 a year profit

Mike McConnell
  • Investor
  • Kennesaw, GA
Posted

Had my house for 2 years, just switched over to a 15 year mortgage.  My house I rent out is on year 1 of a 15 year mortgage.  $107,000 left on mortgage, house is worth $150,000.  I use a service to find renters and take care of everything.  With that said, after service fees, I clear $850 a year.  Would you stick with $850 a year, hoping nothing breaks, or sell.  The 15 year has no pmi so building decent equity in a few years.  What are your thoughts? 

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