My first purchase and i am nervous.

[Camil Kanacevic]

I have been watching all types of investing videos for months now and i had 1bed condo come to my attention. This condo is located 3 blocks from Loyola University in Chicago and it is a lakefront property. I feel that i prematurely bought this unit but the price fell below the 70% rule. I don't know if i should sell or if i should rent after the renovations. I borrowed the money to buy the unit and i have to return the money within 60 days(thank you family for the loan and giving me oppertunity). Should i hold, rent and finance(paid the unit in cash) or do i flip it and almost double what it was purchased for -10k for the rehab. this anxiety is driving me nuts! The more i read and watch the more confused i get. all this talk about tax shelters and multiple LLC's and file your LLC as a s corp i just want to screem CALGON TAKE ME AWAY!!!

[Peter M.]

If you are this stressed out, land lording will only make it worse. Sell it, take the money and when you are a little more centered maybe jump back in with the rentals.