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Updated almost 5 years ago on . Most recent reply

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Venkat Rajan
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Austin Mid-rise condo dilemma

Venkat Rajan
Posted

Hi Folks! Long time surfer, first time poster here. I but a 1bed/bath Condo for myself in Downtown Austin, back in Dec 2018. Its a 800sqft condo in a mid-rise, right next to 8th st. I lived there for a year at which point i had to relocate out of state due to a job requirement.. question is what do i do with the condo.. It's currently rented out but i'm having to eat the taxes and HOA costs (almost $1200/month).

Since i bought it, it hasn't appreciated more than 5% of it's original buying price. There are a few condos sitting unsold, (although all of them face inward into the building). Mine looks out towards a park. I'm confused on what to do with it, hold on for a few years more or risk selling it and lose a good tenant. Please advice. 

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