General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 3 years ago, 01/18/2022
Sell my new rental for a 30k profit or keep renting??
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!!