Ok I Have a house in a bad area (3yrs here) I really need to move?

I'm not big on dodging bullets, but the house was completely refurbed and this would make an excellent investment property what would you do rent it out or sell and use the money for my next purchase

Keep it.

AND DO NOT do this yourself. rent it to a well-qualified, ready, willing and able to rent tenant.

Use the lease and the income from that property to move into your next property.

AND KEEP DOING IT!

"Before you know it", you'll have your own empire!

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

sell. You dont want the problems associated with renting especially in a bad area

WELL THEN DUDE MOVE.

If its a bad area then you may find it hard to rent out as tenants will move in then move out.

Sell it if you can if not get some gypsies in they will sort out the riff raff in the area

Don't move get slomins shield. I know a representative an the alarm systems free so no harm. Call into one of the offices and ask about it

Insist that your Realtor only show the house Saturday and Sunday mornings when the trouble makers are all still in bed. I had a friend in your situation, and that's how he unloaded his place.

Definitely sell.The value of property in these areas usually goes down rather than up!

Don't rent it because the people that will move in will not pay rent if its a bad neighborhood. i would sell it and then go party in Vegas

From purely an investor's viewpoint; if the area in which your house is located is in a high-crime or declining area, it is not a good investment. The potential for the value of the property to decline based on where it is located or the deterioration of good prospective tenancy are all factors to consider. If you feel this situation describes yours, I would reccommend selling sooner rather than later. Consider that the more the area declines, the more difficult a sale at all becomes. The longer a home is vacant the more prone it becomes to vandalism and eventually, condemnation by the city.

http://www.springboardblog.blogspot.com

I'd sell. If your going to buy again you should look into the areas before you commit to anything.Walk around and talk to people i.e real estates - locals

unless you want the headache of always repairing the damages, you would do better to sell it

It's usually best to sell unless you are familiar with the Landlord laws and regulations in your area. They get stricter all the time, so you have to be careful. Also, would you qualify for another mortgage if you kept this one?

In this housing market, its hard to say what would be best. Call a Realtor, and ask them to do a property valuation on your home. Most will do this for free, and that will let you know if you will make any money by selling now instead of waiting.

Good luck!

You don't say where you're located, but selling anything - even in the BEST neighborhoods in my city is almost impossible now, nevermind the fixer-uppers and homes in crappo areas. You'll have to look at the home sales in your area and see what, if anything, is selling and for how much and what the demand for rental housing is. Do research, and make an informed decision. Hanging onto it and renting it out to keep a flow of income isn't a bad option, but do yourself and your neighbors a favor and screen the tenants WELL - you don't want your place getting trashed , especially since it's already been refurbed once. Don't be tempted to buy something else until this one gets sold unless you KNOW you can handle 2 mortgage payments just in case your tenants flake out or your sale falls through.

LOL Glad Im not looking to buy a house right now, I could be the sucker who looks at yours.

Great post! I completely understand your question. Money is hard for a lot of people right now since the enconomy is going down. My friend told me about this website of an organization that gives people up to $1500 towards their rent or mortgage. It's available in most areas, so I think you should check it out.


http://www.rent-mortgage-assist-me.org

Hope this helps!