Selling in next 2 years?

Zillow Group RxOq73
Jun 12 10 Comments

Bought a 3 bedroom townhome in West Seattle a year back at the peak for 720k. Considering a move to east side/cap hill. Thoughts are to rent it out right now, though i'll be a little cashflow negative, provided I can sell it 2 years down the line to break even.

Thoughts?

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TOP 10 Comments
  • Facebook public2
    Never rent for negative cash flow. Just set your price higher (not sure why but tons of home owners forget they can set the rent price). You should be cash flow positive to at least be able to cover expenses.
    Jun 12 5
    • New / Other
      DuQvV7y

      New Other

      BIO
      Did stuff. Hustled hard. Retired
      DuQvV7ymore
      The numbers don’t always work out especially for people who emotionally overbid and then want to convert to a rental
      Jun 12
    • Facebook Transforme
      Owners can't just set rent to whatever number will make them cash flow positive. You have to set rents based on market rate, else your house will stay unrented for a long time, or you'll get undesirable renters (bad credit scores, etc)
      Jun 12
    • Facebook public2
      Can and do if it helps. All of my properties are well over the online estimated rents and I still get 20 applications for each. Try and see, there is no fluid or perfect market. You set the market. You cannot go 3x out of course but give or take a thousand bucks easily.
      Jun 12
    • Facebook Transforme
      If you get 20 applicants when setting rent as k+1000, then market rent for your property is closer to k+1000 than k.
      I don't think online rent estimators are very accurate.

      I guess that's your point - don't trust online rent estimators, try figuring out market rate, don't settle for less. That makes sense.
      Jun 12
    • Facebook public2
      Correct. Zillow plus 1k :)
      Jun 12
  • New AsYK38
    Could you refinance it to interest only for 2 years?
    Jun 12 0
  • Google əๅɓoo⅁
    Location?
    Jun 12 1
    • Zillow Group RxOq73
      OP
      West Seattle. Updated.
      Jun 12
  • Deloitte broadway74
    Is the housing market really going down? I’m considering buying but nervous. Also why the move?
    Jun 12 0