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NexusPropertyMGMT

Pro

Property Management , Real Estate Broker, Rhode Island (9 years experience)

Specialties:
Buyer's Agent,
Property Management

Advice

  • (3 Contributions,
  • 0 Best Answers,
  • 0 Helpful)

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Maximizing ROI on a rental property (rent or sell)?

Answer

1.)You talk about your equity making 0-3% a year from appreciation but you have not mentioned the free cash flow from the rental income.  This would most likely make this a very good investment to hold and you can invest the monthly cash flow in another area.  You would probably have to refi to take any equity out considering you cannot take a line of credit.2.) Rent to own is basically selling an option to buy the property at some point in exchange for a down payment or higher than market rent amount with a portion going towards a potential down payment that is usually forfeited if not exercised by a predetermined date. If you and the tenant could come to an agreement you could then contact a real estate attorney to set up the contract.  

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Is there a tool to create an estimate rental price for my home?

Answer

Until you have a signed lease and a deposit all comps/ rent estimates are just speculation.  Similar properties usually fall into a range and I usually give my clients a basic range from the most recent properties I have rented but the truth of the matter is , your property is worth what someone is willing to pay for it at that time and an estimate is not very useful. 

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