How do you determine if you should sell or keep an investment property? : passive_income
[ad_1]
I thought I had what it takes to be a landlord, but I don’t have the patience. I brought a new home in July 2021 and I rented out my Condo in August 2021.
CONDO mortgage $626 hoa- $199 Rent $1275 Net income = $390 after the $60 property management fee.
The property is valued at $205k with a mortgage of 84k owed.
Since renting I replaced the Microwave, Refrigerator, Washer & Dryer making my rental revenue negative. My tenant has had something almost every month since I rented it out. (I’m ready to quit this and sell)..
What would be the driving factor on if you should sell a property or keep it? What would you do? The property is located in Charlotte NC!
[ad_2]
Source link
