Real Estate/tax Gurus in here!

[eastsidetorino]

So, currently, I have a dillema. I bought a 3 bedroom 2 bath townhouse right near the beach here in Hawaii back in 2009. Im currently looking at moving and lets be honest, single male in a three bedroom house is a bit overkill. My options are sell, or rent.

Here's how the situation looks financially. My mortgage is about $1450ish/month, the maintenance fee is $352/month. Other places in the neighborhood are renting from $2200-$2500/month (I'll be on the upper end as I've remodeled and replaced all appliances recently) Or, I could sell. I owe roughly $280k on the place (paid a shade under $300), and the neighbors (identical floorplan) recently sold for $379,000 (it still needed a good bit of remodeling, unlike mine).

So....sell or rent?

[03mustangdude]

Talk to a property management company see if numbers line up. If you can afford to be on the hook for all bills for 2 months then rent. If not sell.

[yellowstang]

I'd rent, owning property in Hawaii should be a great investment, especially down the road a few years.

Pay a management company to lease it out, but still collect some profit from it, and eventually sell it when the price doubles or something crazy!

[sc281]

I'd rent, owning property in Hawaii should be a great investment, especially down the road a few years.

Pay a management company to lease it out, but still collect some profit from it, and eventually sell it when the price doubles or something crazy!

This. I'd keep it. Why would you leave Hawaii though? Despite their politics I'd live there in a second.

[runin90lx]

which island are you on?

[01vnms4v]

Leave Hawaii now while you can, cause we all know N Korea is going to Nuke it soon.

Ha ha

[talisman]

Rent it out.

[Pokulski-Blatz]

Dfwmustangs timeshare?

[slow99]

Nobody can answer that intelligently unless they know the current state of the market in hawaii and details on the property. Is it class a property? From the numbers you posted sounds like about an 8% cap rate. Is that good or bad right now for your location and property? Hell if I know, but that's the starting point. Maybe Al P has looked into investments in hawaii and can chime in.

[Sean88gt]

Dfwmustangs timeshare?

I like this idea. Where do I send my money?

[eastsidetorino]

This. I'd keep it. Why would you leave Hawaii though? Despite their politics I'd live there in a second.

not looking to leave, just downsizing...Im a single guy in a neighborhood filled with families, kids, etc. For what I pay for this I could get a killer surf shack, or a nice condo in Waikiki.

which island are you on?

Oahu...

[sc281]

not looking to leave, just downsizing...Im a single guy in a neighborhood filled with families, kids, etc. For what I pay for this I could get a killer surf shack, or a nice condo in Waikiki.




Oahu...

God I would love to live in a surf shack and be a beach bum.

/daydream