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Are you sure you need to sell it? Could you rent it out? There is pretty much no way you won't lose money unless the house went up in value a huge amount since
by twblalock 8y ago
Are you sure you need to sell it? Could you rent it out?
There is pretty much no way you won't lose money unless the house went up in value a huge amount since you bought it -- enough to cover all of the costs you incurred when buying it and when selling it.
On the other hand, you might be able to cover a large portion of the mortgage payments by renting it out, depending on the rental market in the area.
- gwbas1c 8y ago> There is pretty much no way you won't lose money Are you crazy? An absentee landlord can't keep close tabs on the property. It can be trashed, or the tenant can stop paying rent. I didn't rent my old house out for that exact reason.
- BigJono 8y agoIsn't that what a real estate agent is for? Half the places I've rented the past 5 years have been owned by some random bloke in China...
- cobbzilla 8y agoNo need to be absentee landlord, a good property manager will handle everything for 8-10% of the monthly rental income.
- twblalock 8y agoI know plenty of people who rent out houses in other states. It’s not crazy at all. They have good property managers and good insurance.