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Updated over 5 years ago, 06/02/2019
Rent or sell that is the ?
This is my first time posting on here... so don't beat me up.
I have a townhouse in montana that is ready to rent.
Let me lay this out. We bought this townhouse for $176000. We currently owe $128000 on a 15 year mortgage at a 2.75 interest rate. We are roughly two years into the 15 year mortgage. Are mortgage is $1,225 / month. We are asking $1,500 for rent each month. I don't think we are asking too much for rent but when I posted my townhouse online, we got beat up in the forums saying that are rent and security deposit of $3,000 was outrageous. We have a brand new set of Apartments down the street that are renting for 1380 dollars a month 3 bed with just a carport. My townhouse is on a quarter acre with a two car garage, 3 bedroom 2 bath.
I haven't had it on the market for very long. But at this point I am really considering selling it and not dealing with tenants. Please let me know your thoughts on this