As J$ is taking opinions about selling his websites, I thought I would pose my own sales question.
The background-In 2012 at the bottom of the housing crisis, I ended up moving and since the market was rough for selling houses, I became a landlord. Over the last 4.5 years I have made a little money and someone else has paid down a a good chunk of my mortgage. However, I have also been lucky that the few repairs I have made have not broken the bank(especially since I live 5 hours away and can’t inspect contractors or fix the simple stuff).
Since the market has bounced back nicely and I am not planning to make my millions via real estate, I am leaning towards it being time to sell and walk away from the table.
Since the profits are (I believe) considered to be capital gains and right now I am still in the 15% bracket, it would be taxed at 0%.
The house is now 16 years old, I am sure that a new roof, new AC, etc will be coming up in the next few years, all big money I don’t want to spend.
The return on investment from the rent is currently about 7%, not bad but it comes with financial liability if something breaks.
It is steady income in a market that has very low interest rates.
Some insight from anyone who has been her before would be great.