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Updated over 8 years ago on . Most recent reply

User Stats

24
Posts
1
Votes
John T kemper
  • Lancaster, PA
1
Votes |
24
Posts

buy and hold question... keep or sell

John T kemper
  • Lancaster, PA
Posted

i have a question on cashflow for the seasoned buy and hold investors ...

the question is more of search for wise advise.  the building is very solid and area has had a very strong market.  lancaster pa

we currently have a single family home property that needs to rent for max  price in our market...Lancaster ,pa... it is a great property and great location.

do we keep for the long haul or sell is the question?  i believe its worth keeping even if its not cashflowing in this case... however it does have to rent at the top rent price until refi could take place..  just need some long term thinkers and strategists to guide us...

150k loan    190 appraisal  29 yrs

3 bed/2bath/yard/deck/garage/basement

 rent 1400

mort/taxes/ins 1115

maint /vac 175

wst 100

no cash flow and actually the taxes will be going up 100 per month so we would go negative.  we do our own managing and all our work.    what do you think? will this property hurt us ?

open to new thinking...  though we prefer a conservative approach which this is leaning more towards risky...  

thanks you all 

John

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