Sell or Lease: your 2 cents

I bought this single family at 2005 for 430K and invested 60K to upgrade. If I want to sell the house today, I can expect to sale for 420K to 430K and the net proceeds after agent fee would be about 400K. So I will lose 90K if I sell the home today. :-( However, I can free up 150K cash to do other investment.

My other alternative is to rent the house for a monthly income around $2200 and my monthly mortgage interest is 490 and property tax and insurance is about 430. I have a 10 year fix loan right now and monthly payment is around 2800 which include 1800 principle, 490 tax and 430 escrow. I will have a negative cash flow if I keep my current 10 year fix loan but the interest cost is low.

I heard people say it is not good to rent out single family as no one will take care the property like I do. I want to hear your 2 cents on whether you will choose rent or sale under this situation.

Happy holidays! And Thanks for your inputs!

 

 

 

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• 房子说穿了就是个物件。人不住了就和其他货币一样。都可以考虑，如有收益。 -香香生煎馒头- ♀ (0 bytes) () 12/20/2012 postreply 20:44:29

• 如果出猪容易,不会损坏,就留着出猪. 要不就卖了. -sinke- ♂ (0 bytes) () 12/20/2012 postreply 20:50:07

• 现在房子不是都在涨？明年应该更涨。我认识的agent 劝人现在不急就别卖 -cafeaulait- ♀ (45 bytes) () 12/20/2012 postreply 20:51:00

• 这要看你家的整体情况才好说。。不过要是我， -偶尔到此一游- ♀ (19 bytes) () 12/20/2012 postreply 20:53:23

• 朋友告诉我有个7% rule. 租金大于这个才合算？ -Daymoon- ♀ (0 bytes) () 12/20/2012 postreply 21:29:06

• 亏本生意:2200rent-490/2int-430*1.2%tx-1800prn-200rep=-$561/mo,10年亏$6 -itallture- ♀ (227 bytes) () 12/20/2012 postreply 21:47:50

• 1800prn不能算在里面. -sinke- ♂ (0 bytes) () 12/20/2012 postreply 21:50:24

• 看你拿那$150K干什么？你怕不怕出租麻烦。不过，目前房市看涨。也许还是租出去好？ -N.- ♀ (77 bytes) () 12/20/2012 postreply 22:04:32

• 过去一年你们州就业率怎样？房屋市场走向如何？ -Daymoon- ♀ (0 bytes) () 12/21/2012 postreply 03:58:52

• Depending on returns on your alternatives -vest2005- ♀ (888 bytes) () 12/21/2012 postreply 05:34:26