Sell or rent conundrum?
Hello all, need a little help here. I purchased a 4 bed, 2.5 bath home 6 years ago in a good neighborhood in Los Angeles near a university and semi close to the beach. If I were to sell it this year, I stand to make anywhere from 250-300k$ on it. I am currently renting it out for $1500 cash profit after expenses.
My question is would it be better to hold onto the property and wait for more appreciation or sell now, cash out and buy another property or two closer to the beach?
I have nearly gutted the whole place and it has a lot of the features that I love. I also feel there maybe a decline in the housing market in the oncoming years. Thanks for the help.