Updated over 7 years ago on .
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Should I sell two houses to pay off one??
So here is my question... should I do a 1031 exchange on my rental property to buy a house that I could pay off after 2 years with the equity I have in my current home??? Currently I only cash flow about $250 a month on my rental property and if I sold It I could have about 150k to put down on another house. If I sold my current home I could walk away with about 300k. I could find a house that would fit my family’s needs for around 450k to 500k. I think it would be nice to not have a mortgage payment at the age of 34 but my worry is it might be smarter to have 2 homes vs 1 in 30 years. I know I have time to buy more property and I would be able to save a lot more money not having a mortgage payment. Thoughts???