Updated over 6 years ago on . Most recent reply
What should I do? Keep or sell?
Property price + rehab = 420k cost I’m paying 2.200/monthly for hard money. So I’m not getting any offers better than 425k paying comission I would loose money. So I’m thinking about keeping it to rent. Please let me know if I’m missing something in my plan. If I get a 430k offer I would sell, but I would pay 3.200 for mortgage no down payment and I would get all me money back, and rent it for 3.500.. next year I can decrease taxes and make more money on the rent. With the mortgage I can get (according to the mortgage person 3.99rate with 830 score credit) 20k gift from NY state, so I could make an extension and make the 3rd bedroom and in the future sell for more. That’s was my first investment, I did 100% by myself, I’m not an American I live here for only 3 years, so this was to learn.