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Old 03-31-2017, 06:29 PM
 
Location: Michigan
45 posts, read 165,939 times
Reputation: 14

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We are reluctant, out-of-state landlords of a small home in Bradenton (just off 41, just N of the airport). Bought it for our daughter in '03, then got schnockered by the downturn. She moved north long ago and we've been holding on, renting it out, barely making the payment, dealing with bad tenants/angry neighbors from a distance, etc. We've had a great property manager for the past year who has relieved much stress.

He just called tho, and our good tenants are moving out TOMORROW (breaking lease). PM says he can rent it quickly, but we're wondering if this might be the time to SELL. It's a cute little house (2B/1B) PLUS a mother-in-law house in the back (1B/1B).

I know the rental market is hot, but how is the real estate market for little, vintage (1949) houses in nice neighborhoods? Everything I see online is big and fancy, OR falling down. Also it's near impossible to find comps for a house like ours (actually two small houses).

Rent it for another year? Get out now? Any wisdom...
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Old 03-31-2017, 06:46 PM
 
3,650 posts, read 9,475,837 times
Reputation: 3811
Well - I do think we are in a inflated bubble here and its good to sell high - which is now - but - every year more and more baby boomers are retiring and moving to Florida - there will be people that cant afford the big fancy houses and people just love cute little "old Florida" vintage - I know I do
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Old 03-31-2017, 06:57 PM
 
Location: Sarasota, Fl
809 posts, read 742,326 times
Reputation: 643
Quote:
Originally Posted by whithill View Post
We are reluctant, out-of-state landlords of a small home in Bradenton

Rent it for another year? Get out now? Any wisdom...
Oh for goodness sakes, price it and put it up for sale. I'm moving from Tampa to Sarasota, and there is no way I'll rent out my lakefront condo. I'll sell it because I don't need the stress of being a landlord. Obviously, you can deal with that stress, so if you don't get your price, you can continue to rent it out.
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Old 03-31-2017, 08:16 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
4,584 posts, read 7,465,733 times
Reputation: 5989
Odds are your property manager either has a real estate license or someone in their office does. Ask them to put together some comps (even if it's not standard construction for the neighborhoods, there should be at least 2 or 3 properties within a couple of miles that can be used for comparison purposes) and then decide if it's worth selling now or rolling the dice for another year.
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Old 04-01-2017, 04:08 PM
 
Location: Michigan
45 posts, read 165,939 times
Reputation: 14
Thanks for your input. Just talked to the property manager. He's, also a realtor. He's putting it up for sale tomorrow. Boom.

I'm so over being a long-distance landlord. If it doesn't sell quickly, we'll just rent another year...
:-)
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