Newsflash: When to sell, when to hold

First I’ve been following this sub for years. You guys are great. This is one of the most productive subs I follow.I own one house. Bought large single family house as a foreclosure around 2012. Lived in for about a year while fixing it up. Bought for 190k, put down 30k. Mortgage is now about 145kBeen renting out for about three years now. After management fees I clear on average $300 a month.In the meantime the market in the area has surged. I strongly believe I could sell in the mid $280s. After realtor fees, minus my down payment and elbow grease, I would pocket/profit around 90k.The house is now 20 years old. It has a brand new roof and a/c.At 300 a month I think it would take 25-30 years to make 90k and by then the house would be worthless.I’m interested in thoughts and suggestions on selling and moving on to the next house.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s