- SlapActionJackson
- Jul 27, 2006
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What about if I refinanced for a 30-year mortgage on what I owed? I'd be paying like $1200 a month and renting it out at $2500, giving me like $15k for repair money each year. Still no?
Still no. Factor in refinance costs, marketing costs, tenant turnover, and typical vacancy. Factor in the hassle and expense of doing everything remotely (especially repairs - you'll have to call a handyman for everything). Your $300K in equity will best be deployed elsewhere. I am a small-time landlord and your situation seems pretty unambiguous to me, too.
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May 21, 2014 05:32
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