Sell or hold denver
Hey eveyone,
I have a scenario that I would love another opinion on. I have asked about this property before, but I have not included my numbers before. I have a rental in Sherrelwood, CO that I owe 107,000 on. The total mortgage, taxes, insurance and all is $738. I have had it rented out for 1000. My renter just moved out, so I have the choice of selling it or renting it out for 1100 maybe 1200. If I sell, I think I will get 190,000. The house is a C in a C neighborhood. If I sell it, I will plan to use the approximately 65,000 to try and find a 3bed 2bath for around 330,000 in a better part of town. The house is directly across the street from HWY 36. Basically, should I keep a slightly better cash flow in a poor location or try my luck in a better part of town? Thanks in advance for the responses!