Dug Myself Into a Hole
Houston, TX. I decided to jump in and buy a house and now I feel like I have backed myself into a corner. I bought a single family house with a detached apartment for $250,000. I'm living in the apartment and renting the house. I am struggling to find tenants because they are uncomfortable with the landlord living on site. The mortgage with taxes and insurance are $2550 a month. I can get $2000 a month for rent. I would estimate my rent by myself would be $1000 a month. I've only owned the property for 6 months and the mortgage is killing me. I don't know if its worth it to keep or if I should sell and move on l. Would love to hear some opinions from the community!