To rent or to sell my first condo?

[Alex Heredia]

Hi everyone! Happy to say I am writing my first post.

I wanted to get other people’s ideas/opinion on the following:

I’ve recently purchased a new home and was able to keep my condo during the purchase (condo was the first property I owned) it’s a 1BR/1BA located in Hayward. Rents are going for about $1700-$2000 a month in the area, and originally I had planned to keep it as a rental. However, after having it listed for about two months now I have yet to find a qualified renter. I would need to rent it for no less than $2000 to cover all of the expenses on it.

From my point of view I feel like I can go in two directions:

1. Continue to look for a qualified renter and keep paying the note on it until I do so.

2. Sell and take the money and put it in to a property either OOS or elsewhere where it’s more viable to cash flow.

Thank in advance to everyone who responds!

[Alex Heredia]

@Ashwin Samtani

@Jonathan Watt

Thank you for the perspectives gentlemen! After mulling it over I am leaning towards selling and taking advantage of a more favorable market. Cheers!