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Updated 11 months ago,
Sell a “good” rental?
I have a long distance SFH that cashflows about 500-600/mo on paper and have owned it for 3 years. This thing should be a machine but the PM always seems have something come up that causes me to not cashflow. I've been negative for the past 6 months.
- Previous tenet skipped out on last months rent
- There was a turnover but that only took a month.
- New tenet fees
- Small toilet leak (should’ve barely changed things)
After those bullet points, no explanation for low cashflow.
This was originally meant to be a flip but decided to keep it before looking into PMs and there aren’t many options. When is it time to call it a day and sell a property that should be killing it, but just isn’t?
I'll still come out with a good profit, but to sell a, sometimes, high cash flowing SFH with a 3.75% rate also seems crazy.
TIA!