Hey everyone, I would really like some input. Rental appraised for $300k and we owe $100k.
I don't enjoy being a landlord. I hired a management company and they suck, every issue involves me calling them a dozen times. This ”passive income” has been a major pain in my butt. Its stressful, every renter has done significant damage, and now my current renter's are behind... Again.
Meanwhile, the property's value is wildly high in pierce county washington. My plan had been to hold the property until the land next to our primary home [not in pierce county] comes up for sale and purchase the naighboring parcel.
I don't want to just sit on $200,000 as the dollar crashes into nothing, but I'm also very risk adverse.
Any thoughts? Its tempting to just sell it and pay off our primary house to reduce monthly costs, but I know that would be a very very poor way to allocate money.
Submitted March 15, 2021 at 08:22PM by The_Joe_ https://ift.tt/3cARgvx
