All Forum Posts by: Eric M.

It is on the Westbank in Terrytown.  Gretna, Jefferson Parish.

I trusted my realtor and was mislead and paid $30k more than what the house is worth.  What is my exit strategy?  

I've just been stationed in New Orleans and this home is my primary residence.  The idea was to rent it out in about 3 yrs once I rotate to my next duty station.  I paid $210k should have paid $180k.  Was told by realtor, retired military which was why I trusted him, rents in the area are $2,000  a month, actually only about $1,500 a month.

If I were to get $1,500 a month I'd break even.  Am I to just hold this property and hope that one day the values will rise in the neighborhood or is there another exit strategy for me?