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?
Is the housing market really going down? I’m considering buying but nervous. Also why the move?
Could you refinance it to interest only for 2 years?
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.
The numbers don’t always work out especially for people who emotionally overbid and then want to convert to a rental
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)
Location?
West Seattle. Updated.