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Updated almost 3 years ago, 01/18/2022

User Stats

120
Posts
92
Votes
Jamie K.
  • Rental Property Investor
  • IL
92
Votes |
120
Posts

Sell my new rental for a 30k profit or keep renting??

Jamie K.
  • Rental Property Investor
  • IL
Posted

Hello BP community! I'm almost a year into my REI journey and I currently have two sf houses. I originally paid 131k for my first property in Joliet,IL which casflows $300 per month after all expenses paid.

The dilemma I'm facing now is whether to sell it and make a 30k profit (comps are going for 170-175) or hold on to it. Its an older home and the roof will probably need replacing within the next 3-5 yrs along with the ac unit. Seems like a no-brainer I just need some advice from the pros!! Any words of wisdom would be much appreciated!!

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