All Forum Posts by: Peter O'Bryan

Thanks.  Really with there was a magical number to tell you what to do but as with everything each individual needs to make the best decision they can.

thanks for the feedback and helping me see the different sides of this issue!  It is a lot to chew on but ultimately I think it is time to move on from this property.  I'm going to take my gains and find a more suitable investment property.  Thanks again!!

I have a single family home in colorado that was recently remodeled with the thought it would be my long term home. I have since moved out and have gone back and forth on keeping it as a rental or selling and cashing out on the property. My concern is the ongoing maintenance of such a large property and I put more money into the remodel than I would have if I originally viewed it as a rental. My thought would be to use the proceeds from the sale to purchase a condo or townhouse which i view as an easier type of property to maintain. As a rental it would have about $200-300 after 1st mortgage,HELOC,maintenance, and vacancy taken into account. If sold should make about 120-150k. Any thoughts? What is the thought process of selling a property?