I have a house in dayton, ohio purchase for 110k put 25k into it including holding cost. Where i'm having a problem deciding is if i should hold or sell. Should i sell the property, for 180k-190k in the right now market(still very hot in my market)ARV is actually like 175k. Or should i hold the property and rent it out an wait a couple year for interest to come down and cash out refi. The property pure cash flows is $115 monthly.
On the other hand i could have about 50-70k if i sell the property to invest and could find a deal that cash flows a little better.
Title Representative · Pittsburgh, PA · Member since 2023 · 82 posts · 51 votes
3y
Two things to keep in mind: 1) There is absolutely no guaranty interest rates will come down; I've seen speculation that they'll keep creeping up for several years even, so as the experts say, the best time to buy was yesterday, the next best time is today. 2)Your $50k profit will need to factor in closing costs for your sale and your purchase, so you can confidently knock around 20% off of your expected profits, unless you're planning to 1031