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Updated over 5 years ago on . Most recent reply
Should I Sell or continue to Rent?
Here is my dilemma. I have a rental with a lease that is expiring in November. I am expecting to make 175 cash a month with next lease and with principal reduction, would be about 600 a month total. I have some repairs coming up, replacing carpet for roughly 3k, potential pool plaster replacement for 5k and potential roof replacement at 10k (house is 22 yrs old). I stand to make roughly 15k or so after all realtor fees and closing fees if I sold it. My question to you is, what would you do knowing all of that?
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@Dave Kuether I would continue to rent. If the property is cash flowing hold on to it. 15K is not much in the grand scheme of things. Also, a big factor is your market. How far will 15K go in your market? Will it be able to produce another property within a month or so? Lets say you do sell and get 15K will you be able to find a house with NO repairs? Just spit balling bro im new and just giving an opinion.