To sell or not to sell, that is the question-Help needed
Hi folks,
I could use some help with making a decision.
About 6 months ago I bought a great pool home in Pasco County, FL that was formerly a sink hole (15 years before I bought, it was listed as sink hole after inspection (in yard), but no damage to house was found). I got it for $55K and added $10K rehab.
The house was rented out for $1200/month, and now, 5 months later, the tenant asked to move out because the neighbor scared her and told her the house could sink.
So, I let the tenant move out, and my PM is recommending selling the house saying we could get $120K for it. I can either sell, or easily get a new renter, and provide them with a disclosure so this doesn't happen again (the neighbor is an issue there).
What would you do? continue getting incredible returns or cash out? The house is financed at 3.5% mortgage. Would love to hear the logic for one way or another.
Thanks!
El