When to Sell and Feeling It is a Good Decision

[Taylor Horowitz]

I own a property in Colorado that I was an owner occupant in for 4 years and then moved in with my significant other.  For the past year, it has been a rental that cash flows about $250/month.  

I have decided to sell and have notified the tenants that the property will be listed in the coming weeks.  

Even though it is a stable investment (there is upside on rents, positive cash flow and should have a nearly zero vacancy rate), I have decided to sell because I have almost made back from renting it what I put down and going to be listing it for 190% of what I paid for it as well as the factors below.

Now as the listing date gets close, I am starting to re-think selling it.  

Arguments for selling:

- I don't trust the HOA and dues have been going up steadily in the past 5 years and some potential high cost items need to be taking care of.

-Cashing out while the market is high and have stockpile of cash to invest in a less expensive market or if there is a drop in the market having cash on hand. 

-Unit needs about 10k in rennovation/maintenance

-Variable rate mortgage and only refinancing options are non-warrantable

Arguments for keeping

- Stable rental income. 

- Upside on rents

- Continually Strong real estate market (Boulder, CO)

I am having trouble getting past the emotional aspect of selling the first place I purchased while I feel there are strong arguments for keeping or selling.  Any input or feedback would be much appreciated.