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Updated almost 9 years ago on . Most recent reply

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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
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23 year tenant wants to buy the house I rent to them. Do I sell

Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
Posted

the first house I bought , lived in it for 10 years , rented it for 23 years . Now the long term tenants asked me to sell it .  its in a upper B neighborhood , good schools ,house needs updating . Paid $ 51 K back in 1983 .  it would sell as is for around $ 210 K . Own it outright .  I am tempted to take the money and run .  Only thing is the taxes .   Suggestions 

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It depends 100% on what your plans going forward are and no one but you has that information. The answer to your question has nothing to do with the money or the property it depends entirely on where you intend to run to with the money. Only you know the answer to that.  

Others opinions are of little to no value in comparison to your own.

Do you enjoy being a landlord, do you know if you are making any money off of the property, do you need the cash flow, is the responsibility worth the cash flow etc.

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