All Forum Posts by: Dan M.

I think the thing you really have to decide is if you want to continue to buy and hold real estate and create wealth in the long term or take the easy way out sell it and keep working 3 jobs. Real estate isn't for everyone on the one hand if its stressing you out when she calls peace of mind is priceless. On the other hand what do you gain if you quit? Your a Realtor you know this market is insane in NY right now so it could be a great time to sell. At the end of the day its up to your individual objectives to do what you want to do as anyone could give a reason to sell, hold, or refinance it at super cheap money. 

Quick analysis with ballpark numbers - Your making about 14,000 a year as long as you have no major capital expenses coming. You could sell it and make ~70,000-80,000 which is about 5 years of rental income you won't have to deal with a tenant (After taxes if you quit real estate investing is closer to 4 years) anymore. Either way you win. Mediate on it and make a decision and stick with it, good luck in either case! 

So all in all its not a homerun but at least your cashflow positive.  Do you see yourself flipping this or going the buy and hold route considering you now have a tenant for one year? 

How did you make out with this and what did you end up doing?