I'm not selling my townhouse when I get married. I have decided to keep it and use it as a rental property. I thought I had a renter lined up (actually I still might, but who knows). Everyone I talk to tells me that this is a really good idea.
If it is such a good idea why am I stressed beyond belief?
I am so worried I won't be able to find someone to rent the place for what it is going to be costing me to keep it. The guy scheduled to go in is paying $1600 (half of that anyway) for a moble home. I need to charge at least $1320 to cover my costs. I want to get a little something out of this deal so I want between $1400 and $1450 from him. Plus he will have to pay for utilities here, at the moble they are included in the rent.
The townhouse is 1100 sqft, 2 bd/1.75 ba on a 1400 sqft lot. Do you think I'm asking too much?
Oh, did I mention I can't pay off the loan for 3 years? that means if this rental thing doesn't pan out I can't sell for 3 years?
Oh, my gosh, I'm freaking out!