Posted by Ronald * Starr(in No CA) on September 03, 2003 at 22:20:19:
Gee, that is more a strategy question than anything else. What are you inclined to do? You are the one who has to live with whatever action you take.
Are you a long-term rent and hold guy? If so, you should hold.
There are a lot of factors to go into the decision, and you have given far too little information to make suggestions of what would be a good way to go.
Here are some of the considerations: Amount of equity in the property. Interest rate on the current loan. Interest rate you might expect on a refinance loan.
Value of the property. How much capital gains you might have if you sold. Whether you might want to keep investing in other real estate after you sold this–suggesting a 1031 exchange.
How much money you have on hand to do the work if you don’t refinance.
Countertops are cheap. Windows are probably expensive, as would be siding. I would not be inclined to put vinyl siding on myself. Maybe paint if it needs it. If I were short of money to pay for windows, I might do some, but not all now. I might put in on the side where winter winds blow and maybe where they are seen most, such as the front. OR the most deteriorated ones.
Good Investing*********Ron Starr************