re: Anybody regret selling a property instead of keeping it for a rental?

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If I rented it for $2500 Id keep $1250 a month. If i sell i get 350-400k profit. When i think of how many years of rent to get to 350-400k… it seems like a no brainer.

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Are you taking into account taxes, insurance, maintenance, management fees (if you dont want to) any HOA/POA dues in that bottom line number? That seems like a huge profit number that might not be taking those things into account.

For example my mortgage (which is a 15yr) on the house we live in now is only $1640/mo, but with taxes, insurance, HOA dues, now we're talking over $2,300/mo, not including any maintenance.

Just make sure you factor in everything, because that's a common mistake people has when renting out a home. They think, oh I can get $2.5k and my mortgage is only $1,250/mo so I have a 50% profit but at the end of the day after some major repairs/maint among other things like tax/ins/fees/tenant turnover might find themselves closer to breakeven as well till the rental gets paid off.

Managing or maintaining a rental property is all up to your mindset. Either you can deal with it or you cant. If you have any real doubt, probably dont do it.

I'm not a rental type person because I just would rather have my extra $ in the market than tied up in real estate. A lot of "appreciation" you get on rentals is lost in interest, taxes, insurance, maintenance, fees, etc compared to what I can get in the market instead. Sometimes over long periods of time you cant even count on much appreciation. Good example of this is the townhome we bought in 2017 we got for $275k, the people who bought it originally in 2004 got it for $251,700. It "appreciated" a whopping $23k over that 13 year period. Imagine making only $23k on a $250k investment over 13 years...and meanwhile they were paying interest on their mortgage, taxes on the property, HOA dues, insurance, maintenance, etc...they lost money on that no doubt. A lot of nice timing sometimes needed to really see big returns on rental pieces unless you just keep forever basically which many certainly do and is the smartest way to do that for sure. By far the best kind of rental income is on properties you own outright. Thats when the cash flow can really stack up.

It's certainly a hot item right now with how inflated real estate and rental prices have gotten in the last year (or really this year). Last year our house would rent out for $2.1k and now it's $2.6k-$2.7k range. But I also could cash out in excess of $125k in equity if we just sold which is still more appealing to me to have that cash to do something else with.

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That $435k invested in the stock market over that 7 year time frame, and simply matching the S&P return every year, would have given you more return than $735k.

And a lot less headaches most likely

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Are we just assuming he got 435k from the sale and didn't buy another house to live in?

My aunt and uncle rented a 600K home and got it absolutely wrecked twice, it’s not just poors who destroy things.

Good point. My initial down payment was like $100k. My equity at sale was like $125k. The value of my money didn’t go from what could have been $435k up to $735k. It basically would have been $125k to $425k (simply the $300k gain).

That said I moved to New Orleans and used the money on a down payment. My house has appreciated pretty nicely as well, just not at nearly the same rate as it would have in Nashville

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Did you hear about the CDC eviction moratorium?

If that doesn't tell you everything you need to know about owning a rental property in this country, then you should be paying more attention.

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If you're going to be a slumlord then you have to deal with slumlord things. The government doesn't make you pick shitty tenants.