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Updated over 2 years ago,

User Stats

87
Posts
31
Votes
Jim Piety
  • Rental Property Investor
  • Austin, TX
31
Votes |
87
Posts

Should I sell my breakeven rental?

Jim Piety
  • Rental Property Investor
  • Austin, TX
Posted

I purchased a fixer upper through a wholesaler in March 2021. After more repairs and expenses than expected, i could not sell the house for a profit. The house would not appraise. So instead, I refinanced, pulled out ~50% of my invested capital and rented it out. Since September, it has been breaking even. If it was located in a fast appreciating neighborhood, I’d be okay with the zero cashflow. However, I am thinking it is a better play to sell, get back most of my capital, suffer a small/minimal loss, and reinvest the cash into a different, faster appreciating market. 

Are there any other options I should I be considering? Should I sell or hold? Appreciate everyone’s advice!

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