All Forum Posts by: Neil Hunter

Awesome, just wanted to double check with you guys

I'm managing a property remotely, and rather than drive down there, I'm considering just having my tenant take a picture using his phone of the signed lease agreement. He's been in the house 3 years now and I trust him. I have already emailed him the lease agreement, and I was considering having him print it out and sign it.

I'm just wondering, is this legally binding? Or is it considered more "valid" if its a physical fax copy?

Thanks for the quick responses. Should I factor in the tax advantage of deducting the mortgage interest? I should still be able to deduct it, even if its a rental..

I wonder if I could get more for renting it out, say closer to 1400/mo, if it would be worth it. I ran through this Forbes calculator, http://www.forbes.com/fdc/rentorsell.shtml, and it says I should sell...

I'm starting to think selling is the best option...

What would you guys think about selling myself or getting a realtor? I'd imagine it would be a pain doing it myself, but I could reduce the price of the home and get it to sell in a heartbeat since I wouldn't have to pay commission..

Oh, and hello, Elizabeth. Good old Hanford.. how's the water ;)

I'm sure this is a highly debated topic, but I'm trying to determine whether I should rent out my home or just sell it. Here's some numbers:

-Worth 230k-240k in today's market (I live in Clovis, CA)

-I still owe 189k (40-50k in equity)

-It was built in 2006, so its relatively new. i.e. I don't anticipate any major repairs.. although the carpet would probably need to be replaced.

Based on what I've heard in talking to property mgmt companies, craigslist, etc. I could probably rent it out for 1250-1350/mo. Unfortunately, my mortgage, plus property taxes, insurance, and HOA runs me about 1470/mo. So I figure 1250 - 100 (management fee) - 100 (lawn care), plus other unexpected costs, I'm probably only going to be pocketing $1000 or less.. on a mortgage of $1470, so nearly a $500 negative cash flow each month.

It almost seems like it would be dumb not to sell it as I look at these numbers. Plus, I have no emotional attachment to the home (I don't really like the layout or anything), I'm single, so there's nothing really tying me to it.

But... I have a few hesitations:

-Is it going to be harder/longer process to sell than rent?

-If the housing market picks up at the rate its been going, maybe its wise to ride it out for another year.. zillow is predicting a 10% increase this year (I'm aware that's just a prediction)

Thoughts?