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Updated almost 2 years ago on . Most recent reply

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Kathy Peck
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What to do for more cash flow in Clearwater

Kathy Peck
Posted

I've owned and rented out a condo in Clearwater for 8 years.   I paid 140K cash for it and it's worth about 375K now (3/2 in a nice area).  HOAs are high - 660 and prob only going up with what's happening with condos here.  Rent is 1900 (prob should be 2100-2200 but these are long term tenants.  I make about 7K a year on it.    I'm wondering if I can get better cash flow by selling it and leveraging it into  single or multi family possibly with a 1031. I just starting getting more seriously into investing this year and one goal is to gain a few more rental properties.  Should the money I've made in the condo be put somewhere else? I'd appreciate the advice.   

  • Kathy Peck
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    Raymond J. Rodrigues
    • Lender
    • Miami, FL
    759
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    Raymond J. Rodrigues
    • Lender
    • Miami, FL
    Replied

    @Kathy Peck, definitely reach out to @Josh Green for some solid advice and guidance. He is an investor and investor focused realtor in the area  that has helped quite a few of my my clients successfully acquire real estate. I hope this recommendation helps! 

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