The Hull Truth - Boating and Fishing Forum - View Single Post - To keep or to sell, that is the question
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Old 12-05-2019, 03:18 PM
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popeyeiii
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Join Date: Aug 2013
Location: Sienna Plantation, TX.
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Default To keep or to sell, that is the question

My sister and I are about to inherit a house. She is adamant on selling, and will probably piss away all the money, I would like to optimize the opportunity and thinking of holding it as a rental property and perhaps leverage other investments. I could probably buy her out, and I am considering leveraging the property to do that.

Challenges for me are....
  • The 40 year old house needs updating. It's well taken care of, but just dated and obvious Sr. Citizens lived there.
  • The neighborhood is transforming and becoming more "ethnic". Half of the residents are Sr Citizens who lived there for 40-50 years, and the other half are incoming families of various origins.
  • It's 1200 miles away
  • No (trustworthy) family in the area to lean on.
  • No real experience as a landlord.

The more I think about it, the more I think selling is a better move, but I don't want to leave any money on the table for something I am not thinking of.