Updated about 9 years ago on . Most recent reply
Options to sell a currently occupied town home
Acquired in 2011 as my primary residance for $117k. Invested around $15k over the years. Current value is around $175k and my mortgage is $86k. I rent it for $1750 and mortgage/insurance/taxes/association are $1100.
Since we are moving out of state I am considering selling to free up more capitol and not have a single rental while I am 800 miles away.
Tenants have been in the property for 2 years and we have a lease until 2018. They have been great tenants with less than a handful of phone calls over the past 2 years.
Do I just keep it until 2018 and decide what to do then? The phone calls/maintenance are not the concern. I feel like the market is strong here and it may be a good time to sell.
I am not sure if I even have the option to sell? I really would rather not shaft these tenants as they have been good to me but I have to remember that I should do what makes most sense.
Thoughts?