Gentlemen, thank you for your advice and feedback. @dan heuschele what you described is exactly what I planned to do. But now I'm confronted with an opportunity to make a very good profit right now and remove any headaches from the property so I am second guessing that very hard. Your investments do leave me very envious and impressed.
@ joe villenueve, I appreciate the thoughts. My only issue with what you have said is that I got the place for 0 down. I have spent less than 15k. Let's say I have to spend 5k a year for a few years to keep it. Each of those years I would get 9k plus in debt pay down for 5 invested. That is a positive return if you look long term enough and I could do that for 7 years before I had even put 10% down on the property. A good way to look at it? No probably not but the ease with which I can hold it is a consideration for me. I would also argue that if I took the money and say, put it in stocks assuming they would appreciate that there is no difference there with assuming the house will appreciate, long term. I understand that's not what you are suggesting, just thinking out loud.
@Dave Foster. I'm really glad you commented. I did the math wrong and was thinking I had until Feb ish of 2022 not 2023. That means I could stay in the property for 1 more year a roll the dice on more appreciation if I wanted to. To your point though, no the property is not special. I was interested in your inflation comment. Would you not consider a 30 year mortgage at a decent if not great rate a good inflation hedge? But, I do get the point you made and am leaning that way.
@Eric Schultz, thanks for the idea. If I keep it I will open a heloc for a "just in case". I'm just not interested in a massive out of state portfolio. I thought I was. Until my wife asked me why. I had no answer. I'm 9 years away from a very good pension. If I do the right things with my two current properties and invest wisely with the rest of my money I'll be just fine. I get the point you are making but I guess when it comes down to it there are two things. 1. I'm more risk adverse. 2. I genuinely just don't want to put in the work it would take to do what you are suggesting we'll. I have an involved job that sees me gone a lot I don't feel the added work would be good. Thanks for your advise though.
@Mathew Paul. You made me laugh. But you also summed the entire thing up with one sentence. If I sell i take a guaranteed win. If I'm greedy I could lose a lot short term. I'm not going to worry about earthquakes though. Appreciate the thoughts.
Really appreciate everyone's feedback. That is a lot of extra thoughts to consider and will absolutely help me.
Cheers.
