Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago,
Sell a Property That Cash Flows Like CRAZY!?
Hey everyone out there in BP Land! I'm looking for some feedback on a decision that we've been flipping back and forth on for awhile now. Here's the run down.
We bought a condo here in a mountain town 3.5 years ago. We paid $147k with 7% down and did some minor remodeling (about 15k cash invested including down payment). We rent it on Airbnb to gross around 3500/month, cash flowing around 900/month after mortgage and ALL expenses. This is a GREAT deal, right?
However....
The appreciation in this market in the past three years is ABSURD, and the property would sell for around 270k right now! We only owe 130 on it, so we could be walking away with some serious cash if we sold it right now. (also, we lived in it as our primary residence for the first two years, so no capital gains) We could take the 100k+ gains and walk away to invest in a larger property that would be more passive than the actively managed A
irbnb.
HELP! We love the cash flow on this property, but hate the idea of the market potentially dropping in the near-ish future and losing the opportunity to take advantage of all this equity! Thoughts?