The DU Lounge
Related: Culture Forums, Support ForumsI might have my condo leased.
I'm meeting there with a woman tomorrow who is interested in the place. I talked to her on the phone this evening. She sounds like a good person who needs a chance. She's going through a divorce right now and is currently living with her mother. She collects disability payments from social security. There is a possibility that she'll have income from alimony payments. The good news is that my place is cheap and she has steady income. The bad news is that she doesn't have a lot of extra money for other expenses. I know I'd be taking a chance, but she sounds like she really wants to do the right thing.
I've heard it said that business decisions should not be based on emotion to any extent. I also know that business without heart is Halliburton.
CaliforniaPeggy
(149,699 posts)And you do have a heart. As well as a brain!
Good luck!
And, if you feel like it, keep us informed!
Tobin S.
(10,418 posts)Suich
(10,642 posts)It would sure be great if it worked out!
Good luck!
Tobin S.
(10,418 posts)But when it became clear to me that I wasn't going to sell the place without taking at least a $12,000 hit, it made more business sense to lease it until housing prices improve or until I become more wealthy.
Suich
(10,642 posts)I agree, selling would get rid of a lot of headaches, but 12K is a pretty big hit.
She might turn out to be an ideal tenant. For your sake, I hope she is!
Keep us posted!
KMOD
(7,906 posts)It sounds like this could be a very sweet win/win.
Tuesday Afternoon
(56,912 posts)mnhtnbb
(31,402 posts)Hope this works out and you get regular rent checks.
We went the route of turning a house we couldn't sell for the price we wanted into a rental in 2011, hoping
for the market to recover. This was a house in a college town (Chapel Hill)
where rentals are snapped up. Well, we decided last winter that we'd relist
the house--knowing we'd take a hit anyway--since the tenants were agreeable to us showing it
all spring before they moved out in May and it took 6 months--August--to get one offer
that was $17,000 LESS than we'd been offered by an investor in 2011. We took the offer
and booked a HUGE loss on the place--ending up getting only $5K more than we paid for
it in 2008, but getting NOTHING back on all the remodeling and adding on, updating
we'd done to it.
So...if you have a steady tenant, you may have to keep it for longer than even 3-4 years IF
the market recovers.
Good luck!
handmade34
(22,757 posts)but, boy, if you can help someone, such as this woman, that is extra awesome!!...
because I work on the road I had rented my house out and always tried to rent at a good price to someone in need... when it works, the feeling is great knowing you can help... just keep in contact w/herand keep control of the situation... best of luck to you!