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Updated about 11 years ago on . Most recent reply
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Rental Hold or Sell and move gains to another business
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.