If a rental property doesn’t make a decent profit above and beyond it’s carrying costs or doesn’t appreciate well then it’s a pointless investment in my opinion. I have one property that appreciates poorly. They all make a profit. I’m trying to sell the one that’s appreciating poorly even though it makes a good profit.
Sent from my iPhone > On Aug 8, 2020, at 5:00 PM, Kaleb Striplin via Mercedes > <mercedes@okiebenz.com> wrote: > > What we get for rent each month covers the mortgage, insurance, taxes etc. > We have a lot of equity in it which is why we want to do the 3 year plan then > sell. > > Sent from my iPhone > >> On Aug 8, 2020, at 2:12 PM, Curt Raymond <curtlud...@yahoo.com> wrote: >> >> >> Get rid of the rental and use all the money you keep plowing into the rental >> to pay down your current mortgage. The amount you're spending can't possibly >> be offset by the rent you're getting or the equity you're building... >> >> -Curt >> >> On Saturday, August 8, 2020, 2:56:36 PM EDT, Kaleb Striplin via Mercedes >> <mercedes@okiebenz.com> wrote: >> >> >> The previous issue was from what appeared to me water intrusion from around >> a window. >> >> As I started pulling up more tile the rot just kept going. I figured out >> what the cause was. The renters did not have their washing machine connected >> properly and water was constantly leaking behind it. I suspect it might have >> been leaking down the wall at the washer connection. Entire floor along that >> wall where washer sits is rotted out. Will have to remove all the tile from >> the room and cut it out and replace. I did not go that direction under the >> house so could have rotted floor joists as well. >> >> Also, plan is to sell the rental in about 3 years and take equity and pay >> off/pay down our current house then refi what is left into a 10 year. >> >> Sent from my iPhone >> >>>> On Aug 8, 2020, at 1:49 PM, Rick Knoble via Mercedes >>>> <mercedes@okiebenz.com> wrote: >>> >>> Kaleb says: >>> >>>> Area is very moist and the crap particle board they >used for sub flooring >>>> just soaked up the moisture. >>> >>> Didn't you have water issues from the roof or something a while back? >>> >>>> I’m sick of messing with this house and about >ready to just dump it for >>>> whatever I can get or let >the bank have it. >>> >>> Sell it or sell your current house and move back in to this one.... You >>> could probably pay off where ever you want to live with the proceeds. No >>> house payments would go a long way to building a retirement or buying a >>> 201x E250. >>> >>> Rick >>> _______________________________________ >>> http://www.okiebenz.com >>> >>> To search list archives http://www.okiebenz.com/archive/ >>> >>> To Unsubscribe or change delivery options go to: >>> http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com >> >>> >> >> >> _______________________________________ >> http://www.okiebenz.com >> >> To search list archives http://www.okiebenz.com/archive/ >> >> To Unsubscribe or change delivery options go to: >> http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com >> > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
