QUOTE (NeilUttamsingh @ Dec 28 2009, 08:43 PM) You sound very confused.
You need to take a step back and figure out what your goals and objectives are.
For instance, why did you buy this condo in the first place? Was it so that you could rent it out? Was it so that you could flip it? Whey did you buy it?
Answer that questions first. Once you do, it should provide you with some clarity as to what you need to do next.
You have to be decisive in whatever it is that you choose.
Also, just because you renovate it, does not necessarily mean that it is going to `jump up in value $35,000`.
Again, go back and ask yourself, why you bought this in the first place. Once you have that question answered, use that information to help guide you to your next decision.
Best Regards,
Neil Uttamsingh.
http://www.firstrentalproperty.com
I purchased the property as a buy and hold. But what got my attention in the first place was that the similar units that had been renovated have been selling between 35000 and 40000 more than I paid for mine. So if I take out equity to by another what is the most logical way to do this. I`m not a seasoned investor but I would like to be sooner than later.