Monday, December 22, 2008

Good news??? - i have a tenant

Well, we've had tons of trouble selling our house in NC - it's not even an issue of lowering the price - the market for more expensive houses completely disappeared and may be out for a while.

Through a management service we've found a tenant who is moving in this week. The prevailing NET (after fees) rental rate is only about 45%-50% of our monthly mortgage, but it also allows the tenant to offset other expenses, like utilities, lower insurance rates, the alarm, etc....

So I suppose the monthly rental income is something we can positively focus on - it certainly helps my finances if i'm laid off.

Regards, makingourway

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