Anthony J. DiNardi
RE/MAX Competitive Edge
177 Washington Valley Road
Warren NJ 07059
Mike, Somerset County is my stomping ground and I am a dominant force in internet marketing. I'd like to throw my hat in the ring and be considered among agents you interview when the time comes to sell.
"Unwavering Commitment to Service"
Search the MLS at http://www.feenick.com
Since this is not your primary residence, I'd say 'it's all about the numbers'. I'd approach it
as strictly a business decision. Like any business decision, the more data, the better the decision.
So, I'd ask: 1) when did you buy it? how much? at current market prices would it be a loss? 2) how much are your monthly payments (mortgage, condo fees, property taxes)? Does the market rental price
cover these monthly payments? 3) do you need to free up the equity (assuming you have some)
for other purposes? 4) Do the current tenants wish to renew their lease? or, would you need to
potentially wait a month or two to find a new tenant?
I'd be happy to work through the numbers with you and help you put it on the market for
either sale or lease -- feel free to contact me.
Prudential NJ Properties
It really is up to you. Is there a more convenient place to have your investment? Can you get a better return elsewhere? One other thing regarding selling. My office has a unit in your development under contract and we ran in to an issue with financing since less than 70% of the total units are owner occupied. Fortunately our buyer is able to put more money down to complete the deal. You have to figure in the lower price ranges that not every buyer will be able to put more money down so the selling side may be a little bit more difficult than the renting side. Hope this helps. Let me know if you want more info.