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Started By
Message
To lease or to sell...
Posted on 11/22/13 at 2:17 pm
Posted on 11/22/13 at 2:17 pm
I built a house back in 2010, lived there for 8 months, but was transferred and had to start renting it. I've had great tenants for almost 2 years now but they are moving on and I need to decide whether just to sell it or go try to find new tenants.
The house is in a new subdivision in St. Gabriel, about a mile past UClub on hwy 30.
I know I would at least break even on it, but with good tenants it's a money maker.
So I'm torn... What would you do?
The house is in a new subdivision in St. Gabriel, about a mile past UClub on hwy 30.
I know I would at least break even on it, but with good tenants it's a money maker.
So I'm torn... What would you do?
2
Posted on 11/22/13 at 2:29 pm to lilsnappa
id say keep it. But things in advance to look at. Will expansion ever head your way. And college kids will beat the shite out of that house. Dont get emotionaly attached. My father just sold some of his property on campus for 1.5 had it for 20+years and expansion finally got the deal. Location is everything. Sure you know this already
Posted on 11/22/13 at 2:39 pm to lilsnappa
would you make a big profit if you sold it ? might want to consider the tax savings if you sell it within 3 years of living in it (no LTG taxes)...usually doesn't make a difference, but if you are on the edge...
Posted on 11/22/13 at 4:59 pm to Zilla
Its a little too far from campus for students and that would not be the preferred demographic anyway.
I don't think I would make a much of a profit after realtor fees and such. Its a little older than 3 years now so that's not an issue anyway.
I don't think I would make a much of a profit after realtor fees and such. Its a little older than 3 years now so that's not an issue anyway.
Posted on 11/22/13 at 5:00 pm to lilsnappa
What do you mean by 'expansion'?
Posted on 11/23/13 at 12:27 am to lilsnappa
Okay I wrote bunch and web page closed down. So tgis one will be brief description. My father.my self and my cousin. Won't give names but you cant go anywhere around tuscalossa and not be by owned property. It didnt happen over night. When I say expansion. . You need to know the demographicsof your town. Pay atattention to where buys are being made. If I bought house is there any chance of getting the ones beside it? Big factor right there. ( Okay this is the probabaly the most important thing you should take from this talking with the monguels in tuscalossa they all say one thing start knocking on doors. My dad has bought all but one house just by asking if they thought about selling. Forclosures if you dont know what you are doing can be a complete flop.) I see right now in Tuscaloosa Northport is great markets. There won't be someone asking to buy a house over there for a complex tho. There is still lot's on campus and no matter where you biy on campus you will come out on top. Unless you arent willing to invest back into them after youve bought them.
Posted on 11/23/13 at 12:29 am to lilsnappa
I didnt re read that post and am sure its jumbled just anyquestions about this topic just post ill check it
Posted on 11/23/13 at 8:16 am to Zoidberg666
Yeah, I'm not really following. This home is a single family 3/2 stand alone in a gated subdivision. I got in early on the development and hand picked a prime lot.
When I had it built in 2010, it was the first non-spec home in the development of 160 lots. Now, the subdivision is about 90% full and I don't believe any more lots are available.
This is in the growing south BR area near the bluebonnet/Hwy 30 corridor. I'm not a developer or realtor, but I think it's in a prime location looking at the next 5-10 years.
So, what I'm really debating is whether to offload it now or wait another 2-3 years. I don't live in BR anymore and must trust a tenant to be able to take care of themselves without me managing the property.
I'm also getting married next year so the extra cash would be nice. Ha
When I had it built in 2010, it was the first non-spec home in the development of 160 lots. Now, the subdivision is about 90% full and I don't believe any more lots are available.
This is in the growing south BR area near the bluebonnet/Hwy 30 corridor. I'm not a developer or realtor, but I think it's in a prime location looking at the next 5-10 years.
So, what I'm really debating is whether to offload it now or wait another 2-3 years. I don't live in BR anymore and must trust a tenant to be able to take care of themselves without me managing the property.
I'm also getting married next year so the extra cash would be nice. Ha
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