Split and keep the investment property as STR

[Sara Aviv Berger]

I have a flip I just finished together with partners. The property is located in prime location and we would like to keep it as STR since selling right now is not the best strategy in that area, but we believe in that location for appreciation therefor we really want to keep it as STR.

The partner is not agreeing to keep it, we have a mortgage on the house but still it seems that we will have positive income and around 6k-7k cash flow each partner.

Refinancing won’t bring us that much to buy out this partner.

What are my options in terms of bringing in a new partner?

Do you think that 6-7k cash flow plus the return when we sell the place in few years is good enough of a deal to bring in a new partner to buy out the other?

Thanks

[John Underwood]

6-7k is annual cash flow.

If so I would make it a LTR since the STR is not much cash flow and a lot more work.

You'll likely be the one doing all the work for your partner.