To sell or not to sell, that is the question-Help needed

[Ellie T.]

Hi folks,

I could use some help with making a decision.

About 6 months ago I bought a great pool home in Pasco County, FL that was formerly a sink hole (15 years before I bought, it was listed as sink hole after inspection (in yard), but no damage to house was found). I got it for $55K and added $10K rehab.

The house was rented out for $1200/month, and now, 5 months later, the tenant asked to move out because the neighbor scared her and told her the house could sink.

So, I let the tenant move out, and my PM is recommending selling the house saying we could get $120K for it. I can either sell, or easily get a new renter, and provide them with a disclosure so this doesn't happen again (the neighbor is an issue there).

What would you do? continue getting incredible returns or cash out? The house is financed at 3.5% mortgage. Would love to hear the logic for one way or another.

Thanks!

El

[Charlie Price]

Cost bases of $65K--Gross rent at $1,200....3.5% Loan....in Florida. I'd be a keeper and on lookout for more deals like this. Buy 2 or 3 more, wait 10 years and you should be very happy!