help - need a plan

Hello all,

I need an opinion regarding my rental property in california. I refinanced my mortgage at 90% ltv and used part of that equity to buy my house in arizona. The problem I have is that the rental property is only rented for 1250 which is half of the mortgage. I need help on how I need to structure my rental so I wont lose so much of money covering the difference.

Sell it as soon as possible (if you can break even or make money). It’s alligator.

Why do you own a property that rents for half the mortgage? Let’s not forget that the mortgage isn’t the only expense. You could potentially be shelling out 3+ times what is coming in.

Business works like this:

Money coming in - money going out = Positive number (if not its not business)