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Updated about 1 year ago, 10/29/2023
Flip with no profits or hold and rent for no cashflow.. what is a better strategy?
I have a property that I have remodeled that is ready to hit the market, unfortunately after crunching the numbers, I will not be making any profit or only just $5000 on a cash investment of about $190K. I bought this property in June. In this market and with the interest rates rising, does it make sense to hold unto this property and rent it out instead of selling it and walking away with no profit?, For the experts out there, what will you suggest? Should I refinance and rent it out (hard loan balance is about 400K and possible rent in the area is $3000 - $3500. or should i just sell it and recoup my investment without any profits..... please weigh in on this and let me know what you guys will do if faced with a situation like this. Comments will be greatly appreciated.