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Updated over 3 years ago on . Most recent reply

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38
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Matthew Catanzariti
  • Saugus, MA
9
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38
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Is it time to sell 3-unit property

Matthew Catanzariti
  • Saugus, MA
Posted

I have a 3 unit I purchased in 2017 for 575k in todays market I’ve been offered 950k for the property. Within the next couple of years I’ll have to do some pretty big projects to the house including siding, some windows and redo one of the units. 
Am I crazy for thinking about selling? I know people on here say hold hold hold but it seems like selling may be a good idea.

Most Popular Reply

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6,675
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Jonathan Greene
#1 Real Estate Agent Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,650
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6,675
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Jonathan Greene
#1 Real Estate Agent Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

I would sell it right now. I don't really understand the advice not to. How much higher do you think a 3-family with cap ex coming is going to worth in a few years? The whole point of real estate investing is turning your property into more properties. So if you sell now and 1031 into an apartment building or a split option somewhere else, you will vastly increase your cash flow. When you are up almost 400k in 6 years, you sell and turn that into 3-4x the doors and cashflow.

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