Sell or rent out?

[Jordan Regier]

Hi everyone, I’m looking for some advice. I’m 32 years old and live in Ontario Canada. I’ve done really well in the past few years building houses and selling them so I decided to build a cottage to rent out for a year to sell. In Ontario you have to rent out a house you build before you sell unless you have a special license. 

The house ended up costing more than expected and to rent out and sell in a year I could possibly take a loss of 50k or more. Right now the rental income covers most costs and I’m going to be paying 600 a month of my own money. 

I have a lot of money tied up in the house that I can’t use for future investments. I guess the question is should I sell in a year and take the loss so I can find better investments? or keeping renting it out for a couple years and try and make my money back? Thanks any advice would be greatly appreciated.