All Forum Posts by: Krista Bean

Hey everyone, thanks so much for your advice, I really appreciate it. I read your replies earlier but was away from my computer!

I have one more question- my husband is keen on renting out the unit even if it means losing money (I.e. renting below the $2100 threshold, which may have to happen). Do you think it is worth renting out a unit if it has been a primary residence and will increase in value for sale in the long run?  We are not professional real estate investors although in the future we may try to get it into it more. 

Hi everyone!

I have been listening to the BP podcast for a few weeks now and am new to the boards. :)

Anyway, I thought this may be a good place to ask for help. My husband and I own a 2 BD 2 BA luxury condo in a gentrified area in the suburbs of Washington, DC near a metro station.

Our costs for our condo will be $2100/month- mortage is a 15 year mortgage at 1.5% interest, HOA/Utilites payments are $500 a month, property manager (a friend) will be $100/month for a total of $2100. We are trying to charge $2200 for rent.

We are trying to move cross country ASAP but this apartment is a headache. It has been 2.5 months on the market. Not a lot of interest. We have it listed on: Craigslist, Zillow, Apartments.com, Padmapper, Trulia. We have had 3 people apply for the unit. 1 had horrible credit so was rejected. 1 was nice but disappeared. 1 we offered to and they chose a different place for location. 

Similar apartments nearby are around $2000 a month, but they aren't like ours- ours is a top floor corner unit, hardwood floors, new appliances, overall it's much nicer than other ones, plus utilities are included, unlike other places.

It's really frustrating for me because I already quit my jobs and I just want to get out of here and re-establish elsewhere. Any advice? We bought a nice camera and are planning on taking better pictures of the property (they are already good IMO but they could use to be better).

Here's a link to our Craigslist listing if you guys have any ideas for what I could do to get this place rented out:

https://washingtondc.craigslist.org/mld/apa/d/2-bdr-2-ba-penthouse/6632452497.html