Sell or Hold SFH in Phoenix

[Chai Jonn]

Hello All,

I am not able to decide between 2 good problems! To sell or keep it for cash flow?

Below are the stats

Purchase Price $215k

Cosmetic Repairs $10k

Downpayment and closing costs $56k

Monthly cash flow $750

The house is worth about $400k to $425k if listed on market.

Have one cash offer for $390k ( title, closing costs paid by buyer).

Should I keep it or sell it? I am not sure what do wi the sale proceeds! Don't have anything else lined up. Other than some syndication deals in multi families which I don't have control on the operating part.

Any thoughts?

Thanks

Chai

[Scott E.]

You're getting around a 5.2% return on your money if you're cash flowing $750 per month and sitting on around $170,000 in equity.

That's not including principal pay down, appreciation, and tax benefits.

Tough call but if you're in a good neighborhood, I'd hold onto this deal.