Ok, so we decided to move forward with trying to get a renter for our house at the same time we are trying to sell this same house... We now have an offer from a couple wanting to rent our house for $1300 a month with first and last month plus a month as a security deposit ($3900) paid upfront. Our mortgage on the house is $1660 per month so we'd be renting it at a loss. However, we would be selling at a huge loss as well so it's not something that we were not expecting in today's climate. My CPA friend thinks it is a good idea as we could begin to claim the property as rental property which means we could claim these losses on our taxes. I think we are moving forward with these renters (have to decide today) just so we can get out from under the house. They want to move in on Aug 1 which works out for our schedule too as our "short sale" house is coming along just fine and we could definitely live there starting Aug 1. I've always wanted rental property but just never thought we would go this route to be landlords so it's a bit of foreign territory for us...
Rental offer
June 18th, 2012 at 12:41 pm
June 18th, 2012 at 01:49 pm 1340027345
June 24th, 2012 at 10:00 pm 1340575220
Jerry