Originally Posted by
burrocrat
your question can only be answered by you. if by measly returns after refinancing you mean anything above break even, then by your earlier description you would net a minimum +600/month off the top vs. current arrangement. (cash flow)
if you like holding the asset because you feel your cap needs more feathers in it, then keep the -600/month deficit arrangement you have now. (balance sheet).
if real estate diversification in your portfolio is the goal, have you considered selling the place and putting the proceeds in a low cost reit fund? that way you don't have to shampoo carpets or replace frozen pipes yourself.
i still want to know who you are renting to at a loss and why, that sounds like a juicy story. maybe you could shut the place down for a month-long remodel and have the contractor install hidden security cams in all the vents. one well-placed youtube sex tape can be more profitable than hitting the lotto.
personally, i would sell it and put the money down on one of those deisel rock star party buses and cruise around making my own youtube videos. like girls gone wild except for with baby boomers. livin the dream.
it all depends on what you value. let us know what you decide, and ps... i love driving and know my way around a camera, call me.
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