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Updated almost 4 years ago,
Should I take advantage of the Seller's market??
Looking for some thoughts on what others would do. I have a STVR in a beach town that did $120k gross in 2020 with a positive cash flow of about $47k after expenses (self managed). Recently my wife and I have been watching the local real estate market and are seeing everything being gobbled up at what we consider crazy high prices and it is getting us the bug of putting ours out there to take advantage of the market. We figured after paying off debt and the cost of the sale and taxes we could net around $460k. The property is 3 hours away from our main home and has the usual issues that one would expect but it is relatively hands off and we often go several months in between "having" to visit for maintenance, etc. So it isn't really a headache in terms of managing. It is located on an island so no real threat of new construction or expansion. We are both in our 40s and I have a steady regular job so no real retirement on the horizon. I know it is impossible to predict the future but so long as it is generating positive cash flow would you keep it?