Quote:
Originally Posted by disneysteve
Honestly, I'm not sure why there is any discussion going on here. You bought this place as an INVESTMENT. It is LOSING $450/month. You need to sell this place ASAP for whatever you can get for it. The longer you hold on to the property, the deeper in the hole you get.
Based on your numbers, it sounds like it has been losing money from day one. I'm curious why you bought it in the first place. The costs have always been higher than the rent, correct.
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I think OP was expecting the price of property to go up, then sell, using the rent as a way to justify losing money short term for a longer term capital gain.
Penny wise dollar foolish if you ask me.