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Buying & Selling Real Estate

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James Robert
  • Flipper/Rehabber
  • Cincinnati, OH
28
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72
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Do I sell and set myself up OR keep as a break even rental?

James Robert
  • Flipper/Rehabber
  • Cincinnati, OH
Posted Mar 2 2024, 20:35

I currently have a house 3 bed 2 bath in one of the best neighborhoods in Cincinnati. I paid 325k for it with 5% down in June 2023. Comps for this house fixed up are now trading in the 5's.. My mortgage is 2.8k and it would rent for 2.8-3k a month on LTR. I don't want to deal with Air Bnb either. Property manager said it would gross around 5k on average but after paying their fee and cleaners and my utilities its the same as LTR. I flip houses as my main job now but am also a licensed realtor. I save 3% when I list my properties myself but this is my primary. If I put 20-25k into this house and sell it for 525 I would walk with around 170k pre tax.  That would have me sitting at around $300,000. I turn 27 in May. Its tempting to just sell it while my market is hot and see what I can turn that $300,000 into. 
Please comment your thoughts. 

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