Hi there,
my head is a bit wrecked at the moment, we have an apartment in a small commuter town since 2002 for €143,000, the rental income has dropped so the situation is we have to fund the additional costs and supplement the mortgage every month:
Mortgage supplement €300 (€25 x 12 months)
management fee €500
Insurance €150
Second property payment €200
And thats before any repairs/problems,we are just wondering if its worth our while 'funding' this property as this is the 1st time we've had to fund this property. We owe around €74000 but would also find it difficult to sell.
Any suggestions/ideas?
Thanks
my head is a bit wrecked at the moment, we have an apartment in a small commuter town since 2002 for €143,000, the rental income has dropped so the situation is we have to fund the additional costs and supplement the mortgage every month:
Mortgage supplement €300 (€25 x 12 months)
management fee €500
Insurance €150
Second property payment €200
And thats before any repairs/problems,we are just wondering if its worth our while 'funding' this property as this is the 1st time we've had to fund this property. We owe around €74000 but would also find it difficult to sell.
Any suggestions/ideas?
Thanks