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Updated about 11 years ago,

User Stats

1,843
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863
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Franklin Romine
  • Visalia-Fresno, CA
863
Votes |
1,843
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Rental Hold or Sell and move gains to another business

Franklin Romine
  • Visalia-Fresno, CA
Posted

Tenant moving out and I'm curious what the thoughts are on selling this rental. We have owned it for almost 2 years...

Purchase Price $44,000 Improvements $36,000 Total Cost $80,000.

Current rent $950

Mortgage $776 month (ten year note P&I)

Taxes $60 month

Insurance $30 month

Cashflow $84 month

Current Debt $76K

Estimated Value $130K

The casflow isn't very good but I have about a 10% return of my actual cash invested in the deal. Would it be worth it to walk away with around 40K now or just hold? I would use the funds to put towards a business.

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