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Reply to "is it "worth" it to keep a rental where you lose $400/month"
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[quote=Anonymous][quote=Anonymous]How much principal do you add every month? If it is much more than $400 you may come out ahead keeping the condo.[/quote] I'm amazed that so many people focus on the short term tax implications and not on this. OP, a lot of this depends on your mortgage payment and how much rent you're getting. Yes, you may be paying $400/month + espenses, but if that plus the rent permits you to pay down $1000 in principal each month, it's still not a terrible idea long-term, assumign you don't have a cash-flow problem now. Consider it forced savings. I suspect OP can't refinance because she doesn't have enough equity, and investment properties have a higher threshold than primary residences. [/quote]
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