selling or not in California to buy a new property

[Vianey Monica galdamez]

NEED advise,

I have a condominium 1/1b that I got for 360k in La Crescenta Los Angeles California. I put down 130k when I got it because it was going to be for my daughter but things did not workout with her. She left and now I am thinking on selling this cond bc I don't want to deal with HOA. I am not making cashflow at all bc hoas are up this year. The condo is now worth 420/449k.

I want to buy a house in the same area but everything in that area is 1m plus and the chances of getting cashflow are almost 0.

I keep looking for property in La crescent but I don't find anything.

so my question is should I sell and keep the cash until I find something on this area or should I rent it out knowing I will not make cashflow.

I will appreciate any recommendations/comments.

[Will Barnard]

Condos are tough as rentals as you do have the HOA fees and rules that eat into your profits. But they can have cash flow under some circumstances. What is right for you will need to be analyzed by doing some side by side comparisons of your current investment with other options you can flow into. One advantage you do have is the value of your asset at the moment as prices are at all time highs and there are plenty of buyers and very few sellers right now.