ST Alpha - "Yes I have an investment property in Colorado (I have had same renter 6 years but lose about 200 a month on it - the HOA) -- nm" (Reading a Post)

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In response to "Plural? House(s)? -- nm" by Will Hunting

Yes I have an investment property in Colorado (I have had same renter 6 years but lose about 200 a month on it - the HOA) -- nm

Posted by Capstern Aug 12 '11, 13:52

(No message)

Responses:

I know some other posters here are being a bit harsh, but this post is puzzling. $200 a month over six years is $14,400. - David Aug 12, 13:56 5
- I owe 120K on the property its worth 85K, I keep the rent at a place where I know the guy will stay. I write the loss off on the property. - Capstern Aug 12, 14:01 1
  - Fair enough. My suggestion would be to put out feelers on that guy taking over the mortgage payments or finding someone who would. -- nm - David Aug 12, 14:02
- Raise the rent a bit. Rent should go up every year, not once every 6. And I freaking rent. -- nm - MDH Aug 12, 13:58 1
  - my rent hasn't gone up in five years *knock wood* - moles Aug 12, 13:59
- I suppose, conceivably, the HOA fee was not as high when he first rented the place out ... -- nm - Beryllium Aug 12, 13:57
have you not raised their rent during that time? -- nm - b. Aug 12, 13:55
see, this is dumb. you are throwing $200 out the window every month. -- nm - Andie Aug 12, 13:54
"hey, looky here. your rent is gettin raised the fuck up" -- nm - moles Aug 12, 13:54 2
- there are usually laws against sudden jumps - but those laws also allow for gradual increases -- nm - Beryllium Aug 12, 13:55
- Exactly. -- nm - Will Hunting Aug 12, 13:54
So you've lost $14,400K on your investment in the past six years? -- nm - Beryllium Aug 12, 13:54 2
- If you count the market I have lose about 54K since the place is worth about 40K less than what I bought it for -- nm - Capstern Aug 12, 14:18
- it'd be less than that with tax incentives, but yeah that's not good. -- nm - Reagen Aug 12, 13:55
So, you bought a house for investments, you've seen it drop 30% in value and you're okay with losing money on the rental? -- nm - Will Hunting Aug 12, 13:54

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