All Forum Posts by: Jay Wilson

Wow. Thank you all for your answers. This is very helpful. I will try and respond to most questions/comments. 

1. This placed is attached to another unit, so AirBnB is out of question. Techincally its a condo, but there are no HOA fees. AirBnb would be a profitable endeavor if allowed.

2. I did not realize profit was tax free if we lived in 2/5 years. We bought at the end of 2018 and moved beginning of 2021, which is >2 years. 

3. Raising rent may be an option and managing on our own may be as well. My wife and I just had our first child and both work which is why we went with a property manager for the first year. 

Thanks everyone again for your input. After reading everyone's comments, we are leaning towards selling pending a correction in the market and/or ability to become cash flow + through raising rents. 

I have a rental property which has appreciated by 80-90K (according to zillow) and we bought it in 2018. Currently we are using a property manager and losing ~$250/month (breaking even without the property manager's fees). Is it worth holding onto this property? It was built in 2018 and is across the street from the beach. My wife and I can afford the $300/month, but is it worth to pay that for the eventual passive income 27 years from now? We orginally bought as our primary residence have a 30 yr mortgage with a great rate. Any thoughts would be great!