All Forum Posts by: Austen Carroll

@Theresa Harris I would reinvest the money from the sale to another property local to me. Something I can manage myself in NC or maybe Virginia

@David Barnett

Thanks. My wife and I talked about it. And we decided to have the conversation and have a number already in our heads of what's large enough for us to sell the property. That way we know know we're making a calculated decision rather than an emotional one with offers being thrown at the house.

This conversation I started is to help us find out what's that number would be

@Michael King

That's why I've been set on holding onto it. It's been pretty good for us. Just looking to see if anyone else has been offered a large enough for them to justify selling a prop with the same cash flow.

@Frank Geiger what's ARV?

@Theresa Harris

I dont know yet cuz I haven't entertained the idea if selling it.

Again I'd like to reiterate.....I'm not thinking about putting it on the market and selling my property.

I'm just thinking... I should be ready to accept the right offer if it falls in front of me instead of turning down every interested buyer without hearing the offer

@Matt M. Haven't gotten far enough with offers to hear any numbers. I've literally ended the conversations with "not interested in selling."

So now I'm trying to think.... Is there a number I'm willing to take for it?

CORRECTION CORRECTION!

We've profitted $400.00 per month! For three years. Per month.

I have a small 2 BR rental in a great location in Salem ,OR. It's been producing a decent amount of passive income for the last few years which we've been very pleased with. We've received numerous inquiries from interested buyers about if we would want to sell. Up until now we just said no not interested mainly because we wanted to stick with our investment to see how it panned out. Now however, we're starting discuss ( my wife and I) how high an offer is high enough to make us let go of our little cash cow?

Property data:

2 BR 2 bath single family

Bought it in 2016 for $168K.

Over the last three years we profited after mortgage, management, tax, and maintainence approx $400.00

The market for downtown Salem is only going to get more aggressive so I don't foresee ever having a problem finding tenants.....

Your thoughts and experiences?

Also, I'm dislocated from the unit. I live in NC. So the idea would be IF we sold the house. Wed invest it in a prop closer to us (east coast)

@Dennis Rootes they are. I lived in the property for two years then moved out.

if I remember correctly it states must be owner occupied for two years or if member is being relocated to a different military installation. 

I started the process of moving out of the house before the two year mark only because I had orders saying I was moving.

@Alexander Felice

I got it for $225,000 back in 2017

Renting right now for $1450. I listed it for $1550 but offered a $100 off military discount