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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]I have been renting out a condo in Arlington where I lose $400/month. The value has gone up about 100K- however I would only clear about 25K after capital gains, realtor fees and paying off a HELOC. I can't refinance b/c it's an "investment" property. Cons: I fear that I will have to put some money into it pretty soon since the appliances are all original (1997) and it needs some updating. I think it would take about 5 years to net zero on the property. Pros: great for taxes and taking the loss but not sure it's worth it thoughts?[/quote] I assume you are talking about a cash flow loss. Did you look, however, at how much of your principle is getting paid off every month? That's not a loss - that's your net worth increasing. And did you factor in the tax deduction for the depreciation that you would loose if you sold the property? It may not be as bad a proposition as you think.[/quote]
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