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Updated over 4 years ago on . Most recent reply

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Betty Snowie
10
Votes |
19
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Seems like a good time to sell

Betty Snowie
Posted

The bottom line is that my rental properties were super busy this summer when, then to add to the "normal" stress, I was hit with major health issues (cancer) for hubby and a daughter. 
Dealing with all that was bad enough, and then as a final straw the bathroom ceiling caved in at one property, with a guest in residence! A pan under the A/C in the house was cracked and leaking on to the wallboard for long enough that mold was on the ceiling side. 

I lost my guest as the house needed to be treated and repairs completed, plus I had to buy and install a new A/C. It was truly beyond it's end of life and I had that factored in to my budget, but it was the timing. I was ready to crack! 

While all this was going on, and covid was changing the world, property values here in our lake community were soaring! As I was at my wits end, I put 2 of my houses on the market. On the day the listings went live, there was a call 4 min later with a verbal offer, made good before noon the next day! Closing is approaching and I'm feeling a bit lighter!

The second house had an excellent offer in less than a week. I won't go into details, but let's just say I either got greedy or I wasn't ready to sell this one. I ended up letting the deal fall for $10K. I might regret it, but I still have the house and I can still rent it out.

So now I am considering where to put the windfall I will be getting when escrow closes. I already have one spec home under construction which will become a vacation rental if timing is against me and it doesn't sell. I am considering picking up a lot in a new area and seeing about flipping it likely by next spring/summer. 

Whatever I decide, my life will take a turn, either a curve or a hard U-turn. We'll see!

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