Best way to sell investment property - Posted by Jay P

import · March 21, 2006, 2:31pm

Posted by Channel on March 24, 2006 at 07:03:41:

Wow, 72%!!!
I’m guessing BGE. I just talked to a couple of folks the other day from BGE and they said it would probably only be 20%. They were getting too much resistance I guess.
Why not just figure out what the increase in electricity costs is after the increase and apply it directly to your tennants as a rent increase? They’re expecting it.

import · March 21, 2006, 2:31pm

Posted by Jay P on March 21, 2006 at 15:31:23:

I have a 2-unit (3 br each) split foyer that I am considering selling. I owe $208,000 and it is worth in the neighborhood of $300,000. I could sell it outright and keep any proceeds (less taxes of course) but I am looking for other options that could make me some long term money. I don’t “need” to sell, however I am paying electric costs and they are scheduled to go up in June by 72%!!! This will eat into my current $300 or so positive cash flow. I guess my question is, how do I maximize my benefit in selling this property.

Any ideas would be appreciated.

Thanks,

Jay

import · March 21, 2006, 9:43pm

Re: Best way to sell investment property - Posted by Patrick

Posted by Patrick on March 21, 2006 at 22:43:00:

I would hold the property. I’m betting the cash flow isn’t paying your other bills. 300 is not much money per month. I would keep the property, hope for appreciation, even if the electric is going up 72%. How are the rates on your mortgage?

Your best bet is to keep the property as your real asset is not the 300 cash flow every month