Low cash flow OR selling in hot market
Hello! First port here....My goal is to ultimately have a portfolio of rentals. I can’t decide if I should sell my townhouse for about 50-60K profit in this hot market and use that to find a better deal that cash flows better or if I should keep the townhouse but make conservatively about 50-100$ a month in cash flow.
I owe 169K on my mortgage with 2.8% interest. The house appraises for about 230, and other models around me have been selling quick around that 230K price. I live in Chicago suburbs so the high property tax and HOA on my townhouse are the cash flow killer. Rentals in my area for these 2 bed 2 bath townhouse are about 1700-1900$ per month.
Sorry if this post was too vague to answer. I can add more details if need be.
Thanks for any input