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Updated over 2 years ago,
First property investment
Hello all,
I purchased 6 months ago my first investment a SFH in San Antonio Texas and is sitting down 30 days already and not offers. We are trying different strategies and nothing. this property was finance through hard money loan and by October 1st I will have to pay 1% for renew or pay in full the property. The thing is what would be my best option? ( I'm open to any valid suggestions)
The remaining balance is $180k and the rent for this property is 1800-1850 and if I refinance the loan payment will be $1750.
Pay in full and rent it out ?
Refinance ?
Try to sell even losing money?
Open to suggestions....