I own a home in northside FTW off 28th and riverside (well the bank does) I am curently looking for a home in the haltom, NRH ect area. Question is
would you sell the current home
or
would you rent it hopefully for enough to cover payment plus added income tax.
The situation is this the current house is a 2 bedroom 1 bath at 1250 Sq with a LARGE 2 car garage and a good sized shed. My mother wants to move here and says she would like to have this house but cannot move because my father won't move. She (jokeingly) says she will when he passes away.
anyhow this place would be perfect for her but it will be a while before she is ready to move here. So the question is would you rent as to have the house paid down for her eventual moving or would you sell and let her find something later
As an added the property curently has a nat gas lease on it that was just signed and may bring upwards of 3-400 per mo. If I sell I'm keeping the mineral rights if I rent I'm keeping the mineral rights. Also there is a local push from the city for a "trinity river beautification" project meaning lots of new buisness is moving in and there are some offers to fix up the hood.
Realtor came and told me he thought the house (with a few fixs) would sell for 92K based on similar properties in the neighborhood I owe $71K (been here 4 yrs)
with all this data what would you all sugest?