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Getting Personal

Getting Personal

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I was very surprised at the reluctance you expressed to the last caller asking if she should sell or rent her house when moving in with her sister. While I can understand how geographic distance can present a challenge, I lived in a six-unit building for 11 years while renting out 5 of the units. I moved less than two miles away, and have continued to manage the building for the past 12 years. When I look at my ROI, and further consider the transaction costs and taxes which would reduce the principal available to me if I were to sell, I cannot imagine that I would come out ahead financially by selling and attempting to invest the proceeds elsewhere. The caller, moving only a mile away, would continue to be a part of the local community, and would be well equipped to monitor the property. I would strongly encourage anyone in a position to keep a property with low debt as an investment to do so.

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