05-Mar-09 NEW: Sell or Rent Out Calculator
This "Sell or Rent Out" calculator was created specifically for a friend of mine (we'll call her Anthea) who came to me with a problem:
"I bought a buy to let property... Should I sell it now or rent it out ?"
Here's a screen shot:
The big killer for her is the fact that the service charge is so high, and the rent so low that the mortgage is not even covered thus creating a cash black hole. She's also locked into a fixed rate mortgage with a redemption penalty.
Even assuming a property boom in 5 years time, she's still better off selling now.
There are 2 files here...
Training Video explaining how to use the calculators on ExcelExperts.com:
- This one is for the "Buy or Rent" calculator but the principles are the same
Sell Or Rent Out Training Video:
Enter your own values, make your own market assumptions, and use at your own risk !