To sell or not to sell...

[Ariane Soffron]

Hi everyone! My name is Ari. I am new to Bigger Pockets and new to real estate! I found the podcast and haven't stopped listening once I started! I have a general question. I bought my home in 2013 for $165,000.00. I put 30k in to it for renovations and $42,000.00 down (25% was required by the association). Between now and then, I've paid about 20k in P&I. So I'm all in at this point for 92k. I owe 97k. The home will sell for nearly 300k in today's market. I'm looking at a couple different options. One, cash out refi at about 3.3% and pull 140k cash out to BRRRR. Two, sell, pull out nearly 200k cash and BRRRR. As a rental I will net $11,500 annually.. $11,500/$92,000=12.5%ROI. When the mortgage is paid .. net will be $17,500/$190,000=9.2%. This is ONE of a million questions coming your way as I try to navigate this decision and start my journey as an investor. Any and all insight is appreciated. If I'm not asking the "right" questions, please feel free to point me in a different direction or offer a different option/perspective. As a side note, this property is in South Florida in a very desirable area. Thanks in advance!!