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General Landlording & Rental Properties

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Heather De La Cruz
  • Rental Property Investor
  • Lakeland, FL
22
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15
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This might be dumb. I want to sell it.

Heather De La Cruz
  • Rental Property Investor
  • Lakeland, FL
Posted Jun 24 2021, 13:41

I think I have too much going on and I'm considering making a decision that's a little rash.

I have a duplex which is generating a little over $1025.00 after mortgage and escrow. It's an hour and a half away. I work full time at a desk and go to school.. I find it harder and harder managing tenants when they move out, dealing with repairs/ cleaning and traveling back and forth as my time is not that flexible.

Anyway, I bought the property for $139k it looks like i could possibly sell for close to $400k. (That was the recent sales price for identical properties next door.)

My issue is that's my only passive income. I feel dumb because it's $1000+/month for life or potentially over $200k one time with no similar prospects that are nearby.

Others have suggested to use a property manager but I honestly have not come across anyone or any company that I find trustworthy. I've seen countless times where tenants are treated poorly and maintenance is upcharged insane amounts.. I've also seen where companies do not respond to tenant requests creating lager problems due to lack of repairs.

Is it dumb to sell? Should I hold on to it and bite the bullet and find a reputable property management company? Should I sell and take advantage of the profits?

Anyone else find themselves feeling this way or in the same position?

I'm a little stressed and welcome any advice.

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