Garfield metro Phoenix sfr rental, sell or hold?
First post! First investment property! I recently purchase an SFR in the Garfield district of metro Phoenix for two reasons (cash flow and potential appreciation upside for gentrification).
I purchased the property well before learning about the 50% rule and it looks like the cash flow will be negative unless I luck out with expenses.The place is newly renovated so there isn't much room for value add reno.
Any tips on what you would do with the property? Hold long term or sell off in a few years if I see some appreciation?
Any tips on calculating capX and repairs/Phoenix in our market?
Purchased for 225k
Currently rents for 1300
Thanks!