To Sell or Not to Sell

[Marie Rufty]

Hello!

My husband and I are trying to decide if now is the time to sell our townhome or if it makes more sense to hold it and rent it out. We were using it as a short-term rental and were cash flowing about $1800 per month that way. It was a big hit on Airbnb and we enjoyed hosting this way. HOA rules have removed STR as an option for this property so we are considering renting long-term and will still cash flow this way but only about $400-500 per month. We are also considering selling. With the market where it is and interest rates going up, we wonder if we will get top dollar by selling now. We would reinvest in a property that will allow STR so that we can maximize cash flow. We are leaning toward selling but this townhome is in a highly sought area of Charlotte and we don't want to let it go if keeping it will be better in the long run. What do you think? Would you sell or hold?

Thank you!

Marie Rufty