Keep or sell this property?

[Roy Gottesdiener]

I currently own a portfolio of 6 SFH, of which there is one that I bought a year ago and it's been a pain to deal with.

After my rehab it had squatters which took around 5 months to evict, then it had to go another smaller rehab and it's still vacant despite lowering the price to the min I can live with.

I do have equity in the deal but with the prepayment penalty on its mortgage it won't be enough and I'll end up with a loss (around 5k) if I sell now, on the other hand I have a loan to pay so it's costing me money each month to hold it.

Would you take the loss to get rid of the headache or grind through a couple of years to be able to sell it without a loss?

[Greg R.]

If you can get off with only 5k loss, that might be a blessing in disguise. If you can't rent it right now and are negative cash flow, what makes you think the rents or market are going to improve anytime soon? You might be stuck w/ negative cash flow for several years which will make it even harder to recoup your money when values increase. 

My concern would be your ability to find a buyer right now. Rates are very high and the buyer pool has thinned out substantially. 

I would list if I were you and see what kind of interest you get.