Should I sell my rental property?
I'm a new member and would really appreciate everyone's feedback. I purchased a condo in 2010 for $155k. The property was a foreclosure. In 2005, the original owner purchased the condo for $305k, but foreclosed on the property. The condo was built in 2005. We've had tenants renting the property over the last four years but they informed us they will not be renewing their lease. Our mortgage/HOA is $980 a month and we charge $1625 a month for rent. As you can see, we have nice cash flow. We consulted with a realtor as we are considering selling and learned we could get $335k if we sold. What would you do in my situation? Would you sell or continue to rent? We don't mind being landlords and the experience has been great thus far as we haven't put much money into the condo. I'm not sure if we will have the same luck with new tenants. The area is a highly desirable area and could easily rent. I'm just not sure if I should keep the property since it has appreciated so much. That's a lot of money to leave on the table if we didn't sell. Again what would you do?