My first house is a bad deal. Should I sell or keep it?

[Justin Bautista]

A year ago from today, I bought my first house. It’s in a great neighborhood, upscale with golf courses. However it’s too expensive. If I were to rent it out to its market value, I would lose money every month from all the expenses. Plus, everything is breaking down. I just repaired the furnace, but it will need to be replaced in a few years. The roof will be due in a few years. The water heater is about done, and so are the washer, dryer, and kitchen appliances.

I fee like I’ve messed up and didn’t do proper research before I bought the house. What do you think I should do? I’m leaning towards selling it, save up again, and trying again with another property.

[Matthew Irish-Jones]

Is this your personal home
Or an investment property?

If it’s an investment property and you will lose every money ever month you should definitely sell.

And reinvest where you can find a cash flow positive property.