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Updated over 1 year ago on . Most recent reply

User Stats

72
Posts
28
Votes
James Robert
  • Flipper/Rehabber
  • Cincinnati, OH
28
Votes |
72
Posts

What would you do? Sell or Keep

James Robert
  • Flipper/Rehabber
  • Cincinnati, OH
Posted

I just bought my second home a few months ago, I sold my first home last year and took home about 60k profit. The house i just bought, I am renovating. I had planned on staying in this one for a little while but I have quickly decided I don't really like the neighborhood. I paid 172k for this and I could sell it for about 210-215 after rehab. I have about 45k liquid funds and no other debts than the mortgage on this. Should I sell it and get another project in a nicer area? Or should I just stick this out and live here for a little while and wait/hope for more appreciation. I was going to air bnb it but according to Air Dna the houses don't pull alot of cash around here due to it not being that close to the city. 
I am a realtor so my income varies, this is probably why I am debating on selling because business is not booming right that. Should I sell it or wait?

Most Popular Reply

User Stats

247
Posts
240
Votes
Ben Firstenberg
  • Investor
  • Cleveland
240
Votes |
247
Posts
Ben Firstenberg
  • Investor
  • Cleveland
Replied

I almost never say this but I would sell. You said you don't like the neighborhood and cash is a little tight. This doesn't sound like an asset worth betting on. Take your money, weather the storm and move on to the next one. 

Warren Buffett loves saying "if you wouldn't hold for 10 years, you shouldn't hold for 10 minutes". I think that applies

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