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Updated about 4 years ago on . Most recent reply

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Sold my duplex last year and regret it

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I bought a duplex in 2016 and sold in 2021, I used most of the profit to pay off some credit card debt which drastically helped my credit score-but now I really regret selling. I still have some of the profit (60k) and have been trying to purchase another investment property with no luck. Ideally I’d like to be an active investor,I’m in Massachusetts for reference and have been looking for a vacation type home to buy and rent out to offset some of the cost. Any suggestions would be greatly appreciated!

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Pat L.
  • Rental Property Investor
  • Upstate, NY
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3,976
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Pat L.
  • Rental Property Investor
  • Upstate, NY
Replied

I often drive by the many I sold prematurely to survive in the 80-90's when rates were 18% & I had too many rentals & too much debt & rehabs to juggle while still working. I never lost money but today most of them are in the high six figures to $1mill. I also commiserate about those I was offered for less than $100k, but turned down. They are also close to $1mill today. We just sold another, in 2 days cash, for the listed price, for 3x our cost basis. Wife is now convinced we sold too quickly BUT sometimes it's just time to move on.

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