Our place is full for about 5 months a year and dead the rest.There is no way I am going to cut our nightly rate to 1/2 or 1/3 to get some bookings.

I know Investors want to remain hopeful that things will pan out, but sometimes you just need to cut your losses and move on and stop the bleeding.

Quite a steal and they get snatched up pretty quickly but if you crunch the numbers, even with the high interest rate you get pretty close to cutting even on your rent (after you allocate X amount to unforeseen property costs)

I can only assume that it is because the situation was so clear cut that they were a REP (IE full time development), the audits were focused around other issues.

I sent a licensed person yesterday who does repairs on doors and asked if we could somehow cut out the wood that is bad and replace.

Or should I cut my losses, sell it now, and look to invest in something else later?

“The [Fed] cut amounts to a declaration of victory over inflation, which has come down from a peak of 9.1% in June 2022 to 2.5% last month.

The last thing you want is owners under cutting each other.

They cut across the board.

Pete,Mortgage rates are falling fast and the FED meets September 17th-18th and its a 99.99% they will cut the FED rate by .25.