Helping a friend manage a rental, I say go with Robert's idea. Of course houses do vary. Yours might be very maintenance free...
Unless you have aspirations to be a landlord and continue down that road, sell it. Take the loss. Wrap up the difference in a loan, and get out. :) On Mon, Aug 29, 2011 at 11:05 PM, Scott Stewart <[email protected]>wrote: > > We're debating what to do with our house in Raleigh. The mortgage is > upside down to the tune of about 15k. Our options are short selling and > blowing up our credit for about two years or becoming landlords and > renting the place until the economy imporves. > > If we rent, it'll cover the vast majority of the mortgage, leaving us on > the hook for about $500 a month, according to the rental agencies we'ev > talked to. > > Who's a landlord right now? What are the big gotchas, and were you able > to buy another house while renting the current one? > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:342129 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
