To Sell or Rent in a hot market??
Hey BP Fam!!
I'm in a tough predicament and am seeking advice on what to do in the following scenario:
I bought a primary townhouse in a nice desirable community in Charlotte NC in December of 2019 with specs of 4 beds/2.5 baths for $239,500 at 5% down. While living there I house hacked 2 rooms at $750 and $800 bringing in $1,550 and living in the master bedroom.
This April I closed on a GREAT deal in the heart of a hot market here right outside of Charlotte and rented out my master for another $750 a month now collecting $2,300 a month on the property (I'm paying the utilities). With one tenant moving out at the end of this month, I'd like to avoid renting by the room moving forward and rent to a family/ someone else longterm.
With owning it for only 1.5 years, there are very similar comps on the same street selling anywhere from $310-$339k a unit. Knowing that capital gains will take a solid chunk, do I hold on or take the cash and dump into my current primary that is a 1930 fixer upper but can yield a very high return as well?
