All Forum Posts by: Adam Laurenzo

 Because you've wisely identified that it no longer fits you as a home, and because if you wanted a rental property you could probably get a better one. 

Question #1: probably worth it.

Question #2: Definitely yes. 

Do you have a solid contractor? I've heard those are devilishly hard to find around Akron.

Given that it's an ADU and you are an owner occupant I would courteously terminate the lease (the how on this is going to depend on your local laws and your lease) and get a new tenant ASAP. This is not a situation I'd risk exposing my child to.

Makes sense to let someone ruin it before getting LVP, unless LVP will get you higher rent now (possible).

Carpet is worse for your indoor air quality though, I'd probably get rid of it the next time I was bored...

 Without a lease?

Tax implications aside, the question I'd be asking myself is "what else could I be doing with all that equity?"

@Daniel Curtin I actually own an RTR property. Or, you know, a property I bought using RTR's guidance. Considering a second one. Happy to chat.

Your time definitely matters, and prioritizing a job you love while trying not to consume the rest of your life with Real Estate is definitely an excellent reason for pursuing the turnkey route over diy. You can always start this way and adjust your workload ratios later.

We bought a property from RTR recently as we both work full time and enjoy our free time too much to let it go. Definitely planning on doing more hands on transactions as we transition to part time at the W2s. 

EDIT: I did probably do more work than the average turnkey investor, though. I wouldn't recommend throwing money at it blindly, obviously. 

Questions that would help me make that decision, if I were in your shoes:

- What would it rent for?

- Do you want to be a landlord?

- What does a potential HELOC or Refi situation look like?

Without good answers to those questions, I'd lean toward selling.