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Updated over 10 years ago,
Hi Everyone another Newbie from the Bexar County TX area
Bexar is the San Antonio and surrounding areas.
Hi Y'all thanks for taking time for reading this. Here's my situation. I have purchased my first property and am rehabbing it right now (what a PIA (saw this acronym in a post I read earlier and love it!)). I used my own $ before I learned NOT to do that and use a hard-money lender so my funds are strapped. I have just finally gotten a hard-money loan for rehab funds (hate the fact that I have to wait on draws).
Here's the question-I will have probably 40% equity in the property. Should I hold it as a rental or try to sell it? My thought is that if I keep it as a rental property eventually I will make a lot more money in the long run. At some point int will become positive cash flow.
What do you savvy REI typically do?
Thanks, Ro