I previously had posted an update on June 20th about this unit that can be found here. I listed the Condo for $1000 as planned and it stayed on the market for about 1 week. I actually had an offer on it after two days but the first potential tennants didn’t pass the background check. The second offer came about 5 days later.
I’m happy to announce I have two new tennants that signed a one year lease for $1000/mo. This is an increase of $100/month from my previous rent of $900/month. I’m also above the break-even point now with the portion of payments going to equity.
I am currently looking at another potential rental since I believe interest rates will keep rising. I had originally thought about paying off the condo unit first but I am contemplating adding a rental unit #3.
I will keep posting updates as they happen.