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also, has he not been renting the place out since he's not been living there?
I wonder how much he is locked into the townhouse. Also, he needs to be nearby the property or rent it out to a person for a reduced rate if they do their own repairs.He owes over 100K? My theory was wrong. Based on a 20% down, a government interest rate, and 30 year term he should owe 104K. I based my figures on a 15 year. He should try renting it out for sure. To be honest, if like to see the guy either crash and burn or make good decisions.
You can have a property management company do it. They'll find tenants, collect rent, and take care of inspections/upkeep/small repairs for a percentage of the rent revenue. Better than trusting a tenant.I wonder how much he is locked into the townhouse. Also, he needs to be nearby the property or rent it out to a person for a reduced rate if they do their own repairs.
You can have a property management company do it. They'll find tenants, collect rent, and take care of inspections/upkeep/small repairs for a percentage of the rent revenue. Better than trusting a tenant.
Ever wonder if someone is squatting in there? Could you imagine how it smells in there since it hasnt been aired out in a while? Also, I would be worried if I left a property I was still paying on having something going on with it and I wouldnt know about it.The condo has been sitting there for about 3 years now.
Didnt his parents co-sign for it?He supposedly rented it out to an Aunt but that could be a lie. I think there's a good possibility that his parents are paying the mortgage on that condo right now.
What i have seen the value of where he is living now have gone up with at least 10k since he bought it.What is the place he's living in now worth? Presumably he's going to have to downsize, also, has he not been renting the place out since he's not been living there?
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