Lease, Sell or Remortgage? 9% interest

lilliegramann
Home Seller
Lakeway, TX

116 Comet St., Lakeway TX 78734
3 bedrooms, 2 baths, large den (size of a 2-car garage), fenced
Cost $205,000 in 2006
Tenant not paying--Mo. lease is $1700, would prefer $2,000
Shall we sell or lease or remortgage? Is it better to keep tenant until actions completed?

Answers (2)
Betina Foreman
Agent
78704

I agree with Cindy, evicting the non paying tenant and replacing them with a qualified tenant is your best bet. The eviction process is fairly lengthy. I also agree it may be difficult to get $2000 in rent, $1650-1850 seems more likely. Good luck!
Betina

Wed Dec 31 2008, 11:29
Cyndi Cummings
Agent
78734
FIRST ANSWER

Good Afternoon,
I have seen this house before and specialize in the Lake Travis area. What you should do depends on your long range goals. I would go through the process of evicting your tenant then move forward with what will help you acheive your goals. I however do not see this home getting $2,000 dollars in todays rental market. I have helped many owners of properties get the right tenant in their properties. Also, you purchased this home at a great price and if you wanted to sell you could also do that. Which way do YOU want to go? I am available to help you acheive your goals. Feel free to call me or visit my web site at http://www.laketravisliving.com.

Sat Oct 25 2008, 12:46

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