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Updated almost 7 years ago,
Is a property worth more under lease?
My question is: Is a property worth more if there is a current lease with long term tenants?
My initial thought is that will shrink my market by scaring out folks looking for a primary, but as a landlord finding tenants who don't complain about anything and pay on time every month is valuable. I really want to keep this property/tenant but at the same time want to grow my investment and looking to do that buy purchasing a bigger property with a 1031 exchange.
I purchased for $115k and for what it is worth, zillow has it for $300k I am currently renting it for $1,200/mo but market shows I can ask for $1,500/mo. Lease ends in July. Need some advise if I would sell with good tenants in place or let the lease expire and sell empty. Thanks BP!