All Forum Posts by: Kim Bunning

Thank you Steve and Matthew. I appreciate the local real estate perspective! 

We own two rental properties near Boulder, CO (Gunbarrel). Market value is about $550,000 (total, before taxes). We paid $108,000 for our first one (15 years ago) and $135,000 for the second one almost ten years ago. Just paid them both off, so we are no longer paying mortgages.

Combined net income is around $14400 per year (except unexpected repairs). We have cash savings to cover unexpected repairs, etc. I have been reluctant to raise rent too much b/c I have reliable long term renters, but I could definitely get a bit more for them.

I realize we are not making much money from them, but ... I've kept them over the years thinking they diversify our retirement portfolio, pretty easy passive income (I manage them myself), etc. 

We are still working but hoping to move to at least part time work in the next few years. I had planned to use the rental income to help cover health insurance costs until we reach Medicare age (5 years for wife, 10 years for me). BUT taxes and HOA fees are really eating in to our income in the last few years. Wondering maybe if it's time to sell ...

Any insights on this situation? Thanks in advance!