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Cory Land
  • Information Technology
  • West Chester, PA
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Should I unload this SFR for something better?

Cory Land
  • Information Technology
  • West Chester, PA
Posted Nov 15 2014, 05:22
I own one SFR rental that cash flows in B+ location which used to be my primary residence. By the numbers it doesn't meet 50% or 1% rules but is a very desirable area by young professionals. I believe the best value in the house is it's ability to appreciate over the next few years. I don't have enough equity (about 15%) to refinance and the PITI is about 75% of the gross monthly income which I think is the main problem. Basically the house itself is too expensive. Assuming I am financially capable, should I sell this property to buy another SFR or multi family which meets the BP rental guidelines? I would like to achieve cash flow and not necessarily appreciation.

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