Jay: Rent it out. Hands down. 80219-- is a zip code VERY high in bank owned properties. The area has decreased in value substantially.

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if i lived in denver, i want to be your tenant

keep the house

you like it, that is why you bought it

not a good time to sell the house

anyways

good luck

Jay,

Looking at what's in 80219 with 2 beds, 2 baths, no garage- there are currently 7 properties under contract. The average price per sq. ft. is just under $100.00. Unless you have a 1600 sq. ft. home, your better off renting and taking any negative cash flow hit. Wait for the market to turn, then sell.

I love the rent to own idea. Consider pushing the rent up as high as you can to get most of your payment covered but offer a generous rent credit toward the purchase price to be applied only in the event of a successful closing- you both win.

I have 5 rentals and 3 of them are on a rent to own. If you'd like the details on how I've got them set up, give me a call, I'll assist with no charge.

I hope this helps,

David Elson
Metro Brokers DTC
303.745.5555

Jay
I like the rental idea. However, just curious, why did you buy your new house before selling your current home? For future thought, you are a stronger buyer when you sell yours first.

Check with a CPA on the tax consequences. After after taxes is seems to be you might actually be cash neutral.
Keith

Jay,

Now is a good time to rent out a property as there are many renters who no longer qualify for a mortgage.

Have you given thought to the possibility of offering your home on a Lease-to-Own option? An experienced Realtor can direct you on the particulars; and, in a very real sense, it allows you to benefit from the best of both renting and selling. My experience has shown that renters in a Lease-To-Own option take better care of the property when they have a vested interest in the home.

If you need a reference of a Realtor who can help you with the process, e-mail me and I'll be happy to recommend one.

Ben Edgson
Highlands Ranch Mortgage Broker
Ben@bythebrookemortgagecom http://www.bythebrookemortgage.com