I am deciding to sell or rent my Condo. Would like some thoughts

[Richard Miller]

Hope all is well with everyone!

Property is a condo.

So, long story short, I moved into another property without having to sell my previous =) My plan was initially to rent the condo out. If I rent it now, I will clear 600 monthly after all expenses. I do know some assessments will come down the line and cut into that 600. For some reason I cant get past the extra $600 a month. Also I'm sure there is some emotional attachment to the property as well. 

OR

I can sell the condo and will clear close to $100,000. But now I wont have the extra income. Although I will have money to invest, finding deals where I can clear $600 are difficult to find. 

With the extra $100,000 what are some ideas to invest?

Would just like some thoughts or different perspective based on your experiences. Much appreciated for your input. 

Thank you!

[Mitchell Jaworski]

@Richard Miller I have been investing in rentals in PBC since 2014.  My only regret is that I sold two of them over the past two years.  I will need quite the pullback in the market to purchase at the prices I acquired them.  Anything I could try and buy now won't cash flow nearly as well. I've been investing out of state the past two years.

If you want experience managing a rental, you could use this condo as your guinea pig to get the experience over the next 2-3 years and then sell the property to avoid capital gains.  Must live in it 2 out of last five, so you have a few years to work with.  Or just keep it and refinance out to free up some $$$ a couple years from now.