really need advice on property in Honolulu…
-have a paid up condo- comperable: value is $250,000, rental is around $1,500/ month
-only debt is a new home, which I just purchased- $750,000…mortgage around $3,600/ month…
should I sell the condo and reamortize my loan or rent and put the $ towards the monthly mortgage payment?
thanks :cool
What do you want to do?
Do you just want to free up some cashflow? Do you want to get rich in real estate? Do you want real estate to retire you?
Ive lived in HI for quite some time and absolutely loved it! And I especially love their market over there, so much potential for investment, rentals can be tough with the high property values. since you have it paid off, DEFINITELY rent that guy out and watch its value grow like a weed. What kind of condition is it in, and what area is it in?
Bluemoon has the correct train of thought!