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Started By
Message
Spinoff: House in Laffy, rent or sell
Posted on 1/7/15 at 2:27 pm
Posted on 1/7/15 at 2:27 pm
3bed/2.5 bath
10 years old
off Congress/ambassador area
appraised at 255k last year
mortgage amount still owed 181k (I guess around 20 yrs left)
note 4.5% is $1464 (everything in note)
I married and moved in larger home with wife/kids (she was in it already)
I rent it and have for some time for $2k/month. Single guy, mid 50s...basically, not a lot of kids running around destroying things.
Hold and rent or sell? I lived in it so no tax issues with selling it.
10 years old
off Congress/ambassador area
appraised at 255k last year
mortgage amount still owed 181k (I guess around 20 yrs left)
note 4.5% is $1464 (everything in note)
I married and moved in larger home with wife/kids (she was in it already)
I rent it and have for some time for $2k/month. Single guy, mid 50s...basically, not a lot of kids running around destroying things.
Hold and rent or sell? I lived in it so no tax issues with selling it.
This post was edited on 1/7/15 at 2:33 pm
4
Posted on 1/7/15 at 2:55 pm to GeeOH
What would you do with 70K?
This post was edited on 1/7/15 at 2:56 pm
Posted on 1/7/15 at 2:55 pm to GeeOH
Or rent to me for a substantial amount less than you are to your current tenant.
Posted on 1/7/15 at 3:32 pm to GeeOH
I'd sell. I think the oil worker market is going to go downhill in Lafayette - sell before the prices fall.
Then your trailer park idea is excellent. All those oil workers will need somewhere to live.
Wish every financial decision I was making these days was so simple.
Then your trailer park idea is excellent. All those oil workers will need somewhere to live.
Wish every financial decision I was making these days was so simple.
Posted on 1/8/15 at 6:34 am to GeeOH
Send him my way if you decide to sell it. Sounds like we have similar houses but mine is off Kaliste Saloom
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