Sell or not to sell
I have a rental property in Cedar Park Texas currently occupied by tenants. The recent-huge tax increase has left with negative cash inflow of about 200-300 per month. I think we do not have much scope to increase the rent as per our property manager. Should I sell it or does it have a potential to appreciate over time? I bought it in 2017 or 2018. If I sell it, I'll buy something near Raleigh, NC. Would that be a good idea?
Most Popular Reply
Cedar Park Texas looks to be a suburb of Austin, where your profile says you reside. If you can't make it work in Cedar Park Texas, why do you think you could make numbers work in Raleigh, 1000 miles away? Getting any cash-flow positive rental property in (WC) Wake County, today, is not impossible, but very improbable. I only have 22 years full-time investing experience in the WC market, so what do I know.
Disclosure: In WC, I have sold multiple properties in the last 18 months and bought 0.