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Updated over 10 years ago on . Most recent reply

User Stats

684
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508
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Billy Daniel
  • Rental Property Investor
  • Russellville, AR
508
Votes |
684
Posts

What should I do?

Billy Daniel
  • Rental Property Investor
  • Russellville, AR
Posted

I am currently renting out a home just south of OKC. This home was originally purchased by my wife and I to live in long term. However, due to a job transfer, we ended up having to move. We decided to rent it out through a property management company because we couldn't afford to make two payments while we waited for someone to buy it. Now I'm am unsure of what I should do with the property. The current lease runs out in a few months and I'm not sure if I should sell or continue to rent. Here are the numbers.
Originally built - 1983
Appraisal (2012) - $105000
Current loan balance - $98500
Monthly Rent - $975
Mortgage Payment - $727
Income - $100 after all expenses

This house is in pretty decent shape. New roof when we bought it in 2012. The previous owner had redone all the interior (the interior of the house looked brand new).

  • Billy Daniel
  • Loading replies...