Reply to Stop 401k and Purchase a Rental Property?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I own a townhome that is rented out. We don't make any money on that property. It pays the mortgage but costs us a lot in repairs or in between tenants. We're going to have to replace the carpets & roof within the next few years. I constantly debate whether to sell the home and put the money from the sale in a mutual fund or a CD just so that it will actually make us money. We've been riding it out for the past 5 years hoping the housing market will go back up but it's been pretty stagnant where we live. I just don't see it appreciating enough to where we come out ahead. Maybe after the mortgage is paid off but that's in about 15 more years. And I can't help but to wonder if that money is just better off elsewhere. [/quote]

We are in exact same boat. Debating if we should sell it in spring and use equity money for something else.[/quote]

Same for us except we've had the same awesome tenants the past 6 years. But if/when they leave, the house needs new carpet and we are just waiting for the call that roof is shot.[/quote]

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