we are comforted by the peace of mind of selling and keeping additional liquid assets in the bank despite the non-existing interest rates
alludes to you kind of wanting to sell already. If I typed the statement above I would give selling a shot…you never know with the inventory the way it is you might actually get a profit or break even and get you peace of mind. You do not have to sell unless you get the price you want, but I would be open with that Realtor or whoever you go with regarding that “testing the waters” aspect.
Personally…I would keep it because I have a lot of faith in real estate to accomplish long term goals and I would worry about what I’m going to do with my 20% if I were to get it back and if I am making the smartest decision with my money. I do not like letting money sit in banks myself. I’m not a big time economist, but I think just about anyone you ask agrees that we are headed for some big time inflation in the not too distant future. If your 20% is in a home I could see the rent of that home going up too(good school district, condition, etc.). If the 20% is in the bank you have peace of mind for now, but less and less of it as your money is worth less and less.
The other consideration is taxes. It sounds like you do okay so you could probably use the write-offs. I’m not an accountant, but I know when I do my taxes I am very glad to have an investment property because if I did not have the deductions I would be giving the money to the IRS anyways…either way I do not get it. Ask your tax person about that one as they know your situation tax-wise.
My 2 cents….best of luck to you whatever you decide and a cheers to your helping out with the in laws…I love mine too and feel lucky for that since most people tend to feel otherwise.
