All Forum Posts by: Venkat Rajan

Yeah, have a few places in mind, but my equity in the unit is quit low too (5% down when i bought it), now around 12%

Thank you for the answers. That's my concern, in this market, getting the property sold could be hard with the  current environment..

Thank you for your reply Gary. yeah its 1200$/month down the drain.. but some of the apts in my building have been on the market for over 100 days, which scares me..  do i take a loss of 14.5k per year or try to break even in a year or two, i'm not sure... 

I'm also worried that, If i tell my tenant that the condo is for sale, he won't renew his lease, and if the condo doesn't sell by december then it'll be the worst case scenario. 

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.