Would you sell or hold?

3 Replies

Bought property last December under market. Paid 282 no closing costs. 3% down. Worth 340 right now. If I paint and fix up kitchen, all bathrooms, and a few other dated stuff I think I could get 380-400. 

Would you flip or what would you do? I either will sell or refinance to a low rate.  But as of right now I can’t make any money renting the place out. I’ll be -135 cash flow. 

What would you do?

Definitely sell. Whether to fix up or not depends on the rehab costs. Right now, you're looking at about a 37k profit. But if the rehab is 20k then you get about 55k profit. Time is money and there is additional risk with fixing it up.