Sell or Keep Condo
Good Day,
I am new to BiggerPockets but the site appears quite fascinating. What brought me here was a desire for some additional thoughts about whether to keep or sell a condo my wife and I have had for several years and have been renting out. There is a lot of speculation going on in our community and some investors from out of state want to buy a controlling interest in our condo development. They are offering very good terms but renting out the condo has been very easy relative to the two single family homes we rent out. No lawns, no roofs, etc. The condo is not a cash cow but it pays for itself and then just a little. I've been afraid that if these investors gain controlling interest they could make life miserable for the rest of us but on the other hand I don't really want to be bullied into selling. There are a large number of non owner-occupied units in this development which makes financing for buyers difficult - yet another reason I am contemplating selling. Any helpful insights?
Regards - Mike