Stay in or back out?

[Jillian Steelman]

Newbie investor here. We have a contract on a new construction home to rent and I felt great about it…until the least few days when a ton of also newly built homes on the same street hit the MLS for rental. We can be competitive with rent amount and almost all of the rentals are 3-2 and we have a 4-2. The large amount of new rentals all trying to rent at the same time we are makes me nervous. Stay the course or back out?

[Nathan Harden]

How much money do you have invested in the deal? Is your feasibility/contingency period over? What I am trying to ask, is there anyway that you can back out of this deal and get your EMD and other cash invested into the deal?

I would assume probably not. Keep the rental, you have a 4/2. If it's a high rent demand area, you'll be fine.