Gentlemen,
I find myself in a situation that you might have seen before: Im tied to a house, that although it can provide with a stream of income, its also a headache to upkeep.
Im trying to get out of N America, but being still in charge of the house means I have to find a property manager, tenants etc. Also, due to the gray nature of the house rental arrangement (I rent rooms in the house to students) no management company wants to touch it.
The last property manager walked out on me, and I cant find anyone to run the show. I asked a close friend to do it, but he has a lot going on, or has no interest. I trust very few people.
Right now, the house is barely making me any coin, and I cant find student or tenants. Im not in the country to do it myself (ads, interviews, etc I like to size up whoever is gonna live there), and after reading horror stories of bad tenants of absentee landlords, I find myself in a pickle.
If its all full, I could make $600/mo clean. Having, of course, a reserve in case anything needs fixing.
Selling means that I would get a nice bit of change all at once, and I could theoretically live off the interest somewhere cheap and warm (Thailand, Laos, Colombia?). Suppliment that with a job here and there, and it could work very well.
However, I like the idea of having a safe ground to go back to in case TSHTF wherever I am. Or to have as backing for a bussiness.
I am somewhat sentimentally attached to it, I have spent a lot of time and effort into it.
Thoughts?
I find myself in a situation that you might have seen before: Im tied to a house, that although it can provide with a stream of income, its also a headache to upkeep.
Im trying to get out of N America, but being still in charge of the house means I have to find a property manager, tenants etc. Also, due to the gray nature of the house rental arrangement (I rent rooms in the house to students) no management company wants to touch it.
The last property manager walked out on me, and I cant find anyone to run the show. I asked a close friend to do it, but he has a lot going on, or has no interest. I trust very few people.
Right now, the house is barely making me any coin, and I cant find student or tenants. Im not in the country to do it myself (ads, interviews, etc I like to size up whoever is gonna live there), and after reading horror stories of bad tenants of absentee landlords, I find myself in a pickle.
If its all full, I could make $600/mo clean. Having, of course, a reserve in case anything needs fixing.
Selling means that I would get a nice bit of change all at once, and I could theoretically live off the interest somewhere cheap and warm (Thailand, Laos, Colombia?). Suppliment that with a job here and there, and it could work very well.
However, I like the idea of having a safe ground to go back to in case TSHTF wherever I am. Or to have as backing for a bussiness.
I am somewhat sentimentally attached to it, I have spent a lot of time and effort into it.
Thoughts?