For a long time I lived in my owned condo. I moved out due to family situation and then converted it into a rental property. It's coming up on 1 year now and I have the option not to renew the lease. I'm feeling like I'd like to take it back at the 1 year mark when the lease ends and then sell it because
1) Rent has been low, expenses have been high
2) Appreciation has been zero
3) Didn't like working with the property manager. This added to my stress.
4) I could have done a lot better in index funds
A few questions
1) The lease expires this winter. Should I take it back then or let it ride a few more months into the spring when home prices are seasonally better?
2) The unit is livable but the carpet is a bit old, the kitchen/bathrooms look generic. It looks like a mass produced rental unit from 20 years ago, just the basics. Should I rennovate?
3) Should I use a realtor? I don't like the idea paying 2.5% commissions. If I can find a discount realtor that accepts a flat rate (i.e 5K), would I do okay?
4) What to do with the proceeds? The rest of my money is 70% VT and 30% small cap value so I'm thinking to continue that? I'm afraid of high valuations in VT (due to tech sector concentration) so I bring that down with small cap value, good idea or not?
1) Rent has been low, expenses have been high
2) Appreciation has been zero
3) Didn't like working with the property manager. This added to my stress.
4) I could have done a lot better in index funds
A few questions
1) The lease expires this winter. Should I take it back then or let it ride a few more months into the spring when home prices are seasonally better?
2) The unit is livable but the carpet is a bit old, the kitchen/bathrooms look generic. It looks like a mass produced rental unit from 20 years ago, just the basics. Should I rennovate?
3) Should I use a realtor? I don't like the idea paying 2.5% commissions. If I can find a discount realtor that accepts a flat rate (i.e 5K), would I do okay?
4) What to do with the proceeds? The rest of my money is 70% VT and 30% small cap value so I'm thinking to continue that? I'm afraid of high valuations in VT (due to tech sector concentration) so I bring that down with small cap value, good idea or not?
Statistics: Posted by tcrez — Wed Oct 02, 2024 3:54 pm — Replies 3 — Views 235