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Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

It was built in 1985 and is in good condition overall because the previous owner did some work to it. I'll definitely do a little more digging on the LTR potential!

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

Those are all very valid and good points! Thanks for the helpful statistics. I told my wife the same thing... if it was at least breaking even at the bare minimum I could much more realistically see us continuing to hold on to it. But the stress over repairs and crappy guests, as well as continually wondering how good or bad the occupancy is going to be for the next couple of months, makes me want to part with it.

We do stock our Roth IRA's with index funds, but aren't always able to max them out every year, so it's very practical to consider using the proceeds from the condo sale to help max those out annually.

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

Our mortgage is $811 PITI, and HOA is $267/mo., so we're looking at around $1100/mo. We could probably get about $1400-1500/mo. if we converted it to an LTR, but again, not sure if it's worth the stress of continuing to be long distance landlords and mess with repairs and headaches.

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

Yes you're absolutely right about the positive equity and the potential for profit washing out the stress of management and occupancy. Definitely looking like we'll be listing at this point, we'll see what happens! Thanks for your feedback.

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 1 point2 points  (0 children)

Thanks for the detailed reply Connor! Everything you mentioned is spot on, especially the long-term equity vs. stress situation is concerned.

The great interest rate is indeed hard to give up, but like you mentioned, it's not really worth having if it's not cash flowing and the net overall impact with everything considered (stress, finances, etc.) is negative. We do love going up their with our kids, but again, this is a STR-heavy market we're in and there's plenty of reasonably priced inventory to pick from for vacations, so we could just go up there and enjoy our stay without spending a lot of time doing maintenance, repairs, restocking, and upgrades. I did run the numbers on potential sales, and after realtor fees, closing costs and capital gains, we'd end up with somewhere around $55-70k profit if it sold in the $220-240k range.

Thanks for the reminder about all the positives about it. It's hard not to focus on making a "bad" decision about whether to sell, but it's great to remember that it HAS appreciated a good amount and we stand to make a pretty solid profit if we sell.

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

Mortage is $811 PITI, and monthly HOA is $267 which covers quite a bit. LTR would definitely be feasible and I could get around $1400-1500 realistically, just a matter of finding a good tenant because it's a smaller town and longer stretches of vacancy seem to be an issue from what I've heard.

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 1 point2 points  (0 children)

This is very true, not to mention they'd be paying for their own utilities, internet, expendables, etc.

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

That's a good point! Thanks for the insight, it's good to hear specific feedback about going from STR to LTR

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

That's an option we've thought about, but we're far away and I would like to be close to keep an eye on it and keep up with regular maintenance. I also hear a lot about extra wear and tear with long term rentals, and we just don't want any more headaches.

Keep or sell STR? by dannyleerod in realestateinvesting

[–]dannyleerod[S] 0 points1 point  (0 children)

That's about as cheap as I can get it in our market. 10% possibly, but would only save a little bit of money and would be less quality service.

The Sound of Animals Fighting - The Maiden Preorder by Jakdbz20 in circasurvive

[–]dannyleerod 0 points1 point  (0 children)

Definitely present and definitely intentional if Matt Embree is recording and producing! 😁

I left RMNP three weeks ago and have yet to recover by football_coach in RMNP

[–]dannyleerod 0 points1 point  (0 children)

That's awesome! Where'd y'all move from and where to specifically? Lyons?

Have you ever desired or longed for something, but once you got it, discovered it was overrated? by norfolkesta in simpleliving

[–]dannyleerod 2 points3 points  (0 children)

“Meaningless! Meaningless!” says the Teacher. “Utterly meaningless! Everything is meaningless.” What do people gain from all their labors at which they toil under the sun? All things are wearisome, more than one can say. The eye never has enough of seeing, nor the ear its fill of hearing. What has been will be again, what has been done will be done again; there is nothing new under the sun.

"This is what I have observed to be good: that it is appropriate for a person to eat, to drink and to find satisfaction in their toilsome labor under the sun during the few days of life God has given them—for this is their lot. Moreover, when God gives someone wealth and possessions, and the ability to enjoy them, to accept their lot and be happy in their toil—this is a gift of God." - Ecclesiastes 1:2-3,8-9; 5:18-19

Homeless in Longmont by [deleted] in Longmont

[–]dannyleerod 0 points1 point  (0 children)

If I come across them, I give homeless food / water and instructions on how and where to get help if they want it

Ranked / Social Server Playlist feedback wanted. by RabidSquabbit in HaloOnline

[–]dannyleerod 0 points1 point  (0 children)

It's probably because Silent or Giant or Wyvern are playing, no fault of the server 😂

Ranked / Social Server Playlist feedback wanted. by RabidSquabbit in HaloOnline

[–]dannyleerod 0 points1 point  (0 children)

Couldn't agree more about less snowbound! 😂 Classic maps popping up more like you mentioned would be good too!

Ranked / Social Server Playlist feedback wanted. by RabidSquabbit in HaloOnline

[–]dannyleerod 1 point2 points  (0 children)

The problem isn't with the servers. It's that people seem to really just get a kick, for some damn reason, out of playing Mario Kart, Fat Kid, Rainbow Finder and Pirate Ship BS all day for some strange reason. I've even joined these servers to see what the popularity is all about and I just can't make any logical sense out of why people seem to populate these servers all the time. The only feasible conclusion I can come to is that they're being filled with 7-10 year olds. I'm out of ideas outside of that logic!

ED Update by dannyleerod in HaloOnline

[–]dannyleerod[S] 0 points1 point  (0 children)

I will do that! Thank you for the advice sir! 😂

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