IMO, if its profitable, its worth keeping. Make it a triple net lease, pass on the expenses and it will be a very small headache.

It is possible that rents in your area are already low, because they are traditionally triple net (rent is net of all expenses, so it will be lower)

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Posted by TurkeysAndBees

Member since Jan 2017

651 posts

Posted on 3/1/17 at 12:31 pm to SECdragonmaster

I'm no expert on Birmingham real estate, my oldest daughter and husband moved there and seem to be thriving. I've never sold a property that I didn't come to regret.... I mean kick myself senseless, regret. If it's paid for, in a good area, and you are not strapped for cash, I think it's a no-brainer. The idea is return on your capital and you would have a hard time doing better anywhere else with as little risk. No way in hell would I sell. It will be a windfall for retirement as well. This is exactly what allowed me to retire early.

I didn't read through carefully but if you are leaning towards sell, make sure you discuss capital gains with your accountant.

This post was edited on 3/1/17 at 12:36 pm

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Posted by TurkeysAndBees

Member since Jan 2017

651 posts

Posted on 3/1/17 at 12:57 pm to TurkeysAndBees

Sorry to Bogart but threads like this sometimes give me flashbacks. Remember you know this property and there shouldn't be any surprises that may come with a re-invest. I love that you say it needs nothing, just put up a sign. I really think your capital gains liability (and LOCATION potential) may be your best insight on what to do. Looking back on my experience in rent / lease for over 30 years, in today's economy I would take a safe 7% annual return any day over trying to hit a "target" at 10% or 12% with any risk.

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Posted by Mossive

Member since Nov 2016

358 posts

Posted on 3/1/17 at 1:56 pm to GFunk

i wish i took this advice.