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Updated about 6 years ago,
Residential Rentals. Sell or rent?
I own multiple rental homes, and commercial retail properties. They are all paid for. The residential properties all have great tenants that pay rent on time, take care of the homes, etc.
A typical rent scenario looks like this: Rent $800. Tenant pays all utilities, landlord pays property tax and hazard insurance. Insurance and property taxes cost me about $100 per month.
The market is a currently a sellers market, there are no listings on the board at the real estate office. I was approached by a local real estate agent who inquired about my interest in selling some of my rental homes, as he had buyers and no inventory. According to the agent, the two properties I would be interested in selling, would bring $150k and $165k.
Here lies my question. Is it better to hold the properties as rentals, or sell the properties?