Time to ‘dump’ a condo? Advice on selling the 1st place I bought

[Kuriakos Mellos]

First time selling real estate and have a minor pit in my stomach.

I guess I should start off with saying that when I initially bought this condo in Oct 2018 - real estate investing was not even on my radar.  It was bought as a condo for me and (down the line) maybe my parents to move into - at this point it’s a burden/headache.

The cons: It was a little rushed, I didn't shop around for rates, I refinanced it twice (again not really knowing the process - to chase lower rates) , the community onlyallows one rental ONCE for 12 months - the HOA is a pain (and has a fee for barely nothing) - I think I'm going to be stuck with a special assessment even if I decide to sell and it just isn't appreacting. (I bought a house in Feb this year for example and it has gone up by at least $35 K (low end appreciation.). This condo I've had for three years and maybe has gone up $15K?). Quite frankly - this is not a good asset.

I’m considering going slightly under market to dump it and move on ?  Any advice as to how to be aggressive in getting rid of it?

I feel annoyed with myself that I’ve let it go this long (I did have a relative rent it from me - as relatives are allowed to stay) but I didn’t charge them the proper rent and this property affectively is an alligator in my portfolio.

Better late then never? The equity which I am hoping to walk away with this would help me buy a SFH and turn a dead asset into a money maker.

Thanks!

K-Man