Sell or rent conundrum?

[Jerad Bailey]

Hello all, need a little help here. I purchased a 4 bed, 2.5 bath home 6 years ago in a good neighborhood in Los Angeles near a university and semi close to the beach. If I were to sell it this year, I stand to make anywhere from 250-300k$ on it. I am currently renting it out for $1500 cash profit after expenses. My question is would it be better to hold onto the property and wait for more appreciation or sell now, cash out and buy another property or two closer to the beach? I have nearly gutted the whole place and it has a lot of the features that I love. I also feel there maybe a decline in the housing market in the oncoming years. Thanks for the help.

[Kyle Boughton]

Sounds like a tough decision. I own 2 rentals near a university and bank on rental income and never have an issue with renting it out. I could also sell these houses for a lot of money and invest elsewhere. Instead I decided to take a HELOC out against it and use that money to invest further in my real estate career. Maybe look into that option. Just my 2 cents.