All Forum Posts by: Lydia Woods

Hey Ladies and Gentleman, I have a question. I purchase my first investment home in February 2017, I remodeled and it’s looking good. I put it on the market in August, been having some people interested here and there. But nothing definite. The home is listed at $85k I have total of $38k invested in it (include purchase of home and remodeling). A lot of my money is tied up. I’m thinking if it don’t sell by December to go ahead and rent it out, which will be an easy $1,000 - $1,200 a month. What’s y’all advice and experience ?

It depends on your area and the perspective. Especially if your comparing areas. For example, I live in the south, homes and apts in California to me are overvalued. The prices of homes and rent out there is overvalued compared to out here. What residents pay out there for a normal 3 bedroom house there. Can get you 4000 sq ft mansion out here w/ a yard in the south. Same comparing apts. We had a natural disaster happen last year and many ppl have lost there homes. So locally many homes are overvalued at the times. Homes that was normally 50k are now 80k. And been selling cause of supply and demand.