Hold Investment Property or Sell?
Hey everyone,
I purchased my first Investment property 3 years ago. Home is a 2 family that I converted into a 3 family. Purchase price was 159k. Mortgage is $1600 including tax insurance PMI and principle. My net income after everything is $1500 not bad. My question is would I be better off selling my property or keep collecting the rental income? My house has increased in value since purchase and I would probably net 150K from the sale. My goal was to get another property but its very hard for me with unplanned repairs, income taxes, and I sometimes use the savings for personal expenses. So its been very hard for me to save for a 20% down payment to purchase my second property. What would you guys recommend. I don't want out of real estate investing but I feel like I can leverage 150k better (not sure how yet). Thanks.