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Updated almost 4 years ago, 01/13/2021

User Stats

140
Posts
36
Votes
Delmas Edwards
  • Warren, MI
36
Votes |
140
Posts

I need help in what I should do, what are my options?

Delmas Edwards
  • Warren, MI
Posted

I have a rental property I purchased cash using my credit cards. I purchased it for 18k rehabbed it and now it appraised about 35k. The interest rates went up and I really don't want to sell for 35k I'll break even on my credit cards and still have to pay taxes on it being sold plus closing cost and etc. I have a tenant with a 1-year lease paying $775. I want to learn lease options but please let me know what are my options and your comments are appreciated. This is my first rental. No skin in the game.

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