The house will go off the sales market on Tuesday the 20th and go on to the rental market that same day.
At the same time this is all going on I was reading someone’s analysis of the movement of Seattle’s population. In the next two years it should be adding almost 40,000 people — and all of those people need some place to live. And this is a trend that’s not slowing down.
Despite the fact that over four months we’ve not sold the house, I think that we’re sitting on a gold mine if we look at a longer-term perspective. Even with a 4% year-over-year increase in rents, which isn’t a lot at all, we’re looking at covering the loan and interest for both the Seattle house and the house here in Nashville in just a few years. It’s having someone else do the heavy lifting to pay for our house.