How to tell when to sell

[newbury]

Could you move to it for a couple of years so it was your primary residence?

 

[kenmac]

I'm like you tally. I've got 13 acres of river front property I stole at 30,000 several years ago.
I don't rent it, although I have had people asking all the time about putting a MH on the property and paying me property rent.

I have been getting letters in the mail from out state investment firms, and some local people have expressed interest in purchasing the property.

It only cost me $24.00 per yr in property tax, and I sure don't need the money .
I'm Just thinking I'll keep mine and pass it down to my two boys. If one doesn't want it, he can buy the other out.

 

[check]

I am afraid that we have already missed the peak. But if you’re going to sell, do not wait. Prices are starting to go down and will continue to do so.

The next peak could be years and years away. I would take the money and run, unless prices have already dropped significantly in your area.

 

[Torvy]

I guess that all depends upon where you live. We still have many people moving into Texas, keeping the RE market hot.

 

[mikester]

Making $5000 a year in rent is a good thing. Unless you really need the money I would continue to rent it and continue the rent agreement. Maybe re-look the amount of rent based on local rates.

Of course this is a personal decision and the rest of us just give food for thought.

Good luck in whatever you decide.

$5K per year rent on 10 acres is a gold mine considering your land only costs $15K per acre.

Something doesn't jive up here in my books.

 

[orezok]

I’m really sorry to hear that the marijuana plantation idea didn’t work out

 

[EddieWalker]

I think your age is the deciding factor. If you wait, will you be able to enjoy your investment? If you where younger, I would hold onto it, but the timing seems right to sell in your situation.

I'm personally looking at doing the exact opposite, and buy some investment land from my brothers estate. I'm 57 and I think that in the next decade or two, the land will increase significantly. I don't have confidence in the Market right now to feel comfortable selling that land and investing the money in the Market. I've already lost enough money there already.

 

[ljjhouser]

I guess it is true - "You can't take it with you." Tradosaurus has the answer.