Convince me : sell or hold

[Sam Sagor]

I have some convincing to do - family estate is up for being rented or being sold. I believe this is the wrong if not worst time to sell this and would advocate using the house as a buy and hold property or vacation rental. I need to find convincing arguments that I can use to back this(linking the best articles you may know would help). Or I could be utterly and completely wrong. I always entertain the possibility ...I would appreciate opinions on this.

If it helps to know the details, they are as follows ... property is a luxury Hawaiian estate. In Holualoa. Comparable homes lead me to believe it's worth 2- 3 million in this market. Whether it will sell is another good question. We had a 6 million offer on it 2 and 1/2 years ago. It's been off market for approximately 2 years. It's Gated, fancy marble flooring, it leaves guests breathless... I think vacation rental is it optimal use. Anything to say about rentals vs. vacation rentals?

[Joel Owens]

Don't you have 99 year land leases there??

Why doesn't the one that wants to sell get the other two to have an appraisal done on the current value.Then agree to buy her portion out to the two that want to keep it??

I know it's not that simple but maybe able to do something like that.