This might be dumb. I want to sell it.

[Heather De La Cruz]

I think I have too much going on and I'm considering making a decision that's a little rash.

I have a duplex which is generating a little over $1025.00 after mortgage and escrow. It's an hour and a half away. I work full time at a desk and go to school.. I find it harder and harder managing tenants when they move out, dealing with repairs/ cleaning and traveling back and forth as my time is not that flexible.

Anyway, I bought the property for $139k it looks like i could possibly sell for close to $400k. (That was the recent sales price for identical properties next door.)

My issue is that's my only passive income. I feel dumb because it's $1000+/month for life or potentially over $200k one time with no similar prospects that are nearby.

Others have suggested to use a property manager but I honestly have not come across anyone or any company that I find trustworthy. I've seen countless times where tenants are treated poorly and maintenance is upcharged insane amounts.. I've also seen where companies do not respond to tenant requests creating lager problems due to lack of repairs.

Is it dumb to sell? Should I hold on to it and bite the bullet and find a reputable property management company? Should I sell and take advantage of the profits?

Anyone else find themselves feeling this way or in the same position?

I'm a little stressed and welcome any advice.

[Joe Villeneuve]

Pardon me while I gasp.

Please take this for the tongue and cheek statement it is meant to be, but....

This is a math problem, with a simple math solution.  Here goes.  As I see it, you are mulling over two positive choices.  One choice is a great one, and the other is a good one.  Here are your two choices.  See if you can figure out which one is which.

Choice #1:  Sell the property for an immediate profit between $200 - 250k, or...

Choice #2:  Keep the property, with all the headaches you mentioned, and profit around $13,000/year in pieces, in CF.

Now, before you make your decision, let me add these additional math equations to the process.  Ready?

_$250,000__ = 19.2 years
$13,000/yr

$250,000  x  5  =  $1.5M