All Forum Posts by: Ben Mills

Greg - You’re correct. The negative 400 is pure cash flow. I hadn’t considered it from the other perspective but I see your point. Our principal deduction each month is around 700/month at this stage of the mortgage. Thanks for the insight.

0 Votes

Originally posted by @Greg M.:

Originally posted by @Ben Mills:

Currently, I have great tenants in place but at current market value, I am out of pocket 400$/month. Should I cut my losses now and sell or give it a chance to appreciate?

When you say that you are out $400/month, is that after factoring in the pay down on your loan or is it just pure cash flow?

If every month you have to take $400 out of your pocket to meet the expenses, but $600/month is applied toward your loan balance after the interest payment, it may not be a bad deal. Think of it like a forced savings account.

0 Votes

Hi Russell - We put about 10k into renovations, and have owned since 1/2017. It was financed with a VA loan with. 3.5% interest rate.

It’s a long story but it was never intended as a rental but I was unexpectedly transferred out of the area so here we are.

1 Vote

I own a condo within 1.5 miles and a few metro stops of the new Amazon HQ2 site in Northern Virginia. I owe $378k and the property is currently worth 415k. Currently, I have great tenants in place but at current market value, I am out of pocket 400$/month. Should I cut my losses now and sell or give it a chance to appreciate?

0 Votes

All Forum Posts by: Ben Mills

Ben Mills has started 1 posts and replied 4 times.

Post: To Sell or to Hold near Amazon HQ2?

Post: To Sell or to Hold near Amazon HQ2?

Post: To Sell or to Hold near Amazon HQ2?

Post: To Sell or to Hold near Amazon HQ2?