it’s all about prevailing rent, not about your costs.
That’s why it’s important to buy low. buy at the trough, save money, then buy again at the next trough. You have about 4 cycles in your lifetime. then you die.[/quote]
What is prevailing market? The zillow rent estimate?
Right now I’m 6% under market based on zillow.
The reason the $100 is an issue is because the numbers don’t work.
I bought this property over 1 decade ago (early 03) – probably time to sell.
I owe 210k – I can probably get 310k.
Appreciation is slowing – the time may be right to sell while:
*Pricing strength still decent
*We’re in the selling season
*My carrying costs are up, now a liability
