Rehabbing & House Flipping

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James Robert
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Should I sell now or wait?

James Robert
Posted Aug 10 2022, 21:31

Hello 

I am a Realtor here in Cincy and also aspiring investor. I current own a single family home in a great area. I paid 183k for the home and the floors are sloped, some foundation settling on a stone foundation. Nothing you can really do but jack up the house. Costly. 

I am living in this house, 8 months in and have done numerous updates. I no longer want to live in this house as I dislike the sloping. I did not care that much when I bought it because I was excited about my first property. Now that I live here, I very much dislike it. I would have to jack up the house (3k) then have new flooring put in which would be 5-10k. I have already dropped a fair amount of money on bathroom updates, kitchen etc. I could sell it for probably 235-250 right now and I paid 183k. I am scared the market is going to turn (already is) and I will not be able to sell it. It has a strange layout. If buyers get more options they may not want my home. It would cash flow about $800 but the sloping will get worse over time if I do not fix the problem. I kinda just want to sell it now, take the hit on taxes & move on. What would you do? 

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