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Updated 6 months ago, 07/09/2024
Advice on a hard decision (should I sell my STR in the Dominican Republic)
I recently built a large STR in the Dominican Republic. I have a few partners, but went over budget and personally funded the remaining construction costs. The STR has been successful, but I do not see me getting the additional funded construction costs back anytime soon. Because of that, my partners and I have discussed selling. Construction cost settled at $950k. We are closing out the first year of rental history and expect to gross close to $240k this year. A recent appraisal would have it listed around $1.75 m. Curious to hear other investors thoughts on whether I should cash out and sell or keep raking in the passive income.