Real estate note ...to sell or not to sell?
Seeking advice from seasoned pros. I am relatively new to real estate investing. Ive got 5 rentals and a real estate note that I own from an owner finance fix and flip deal I recently closed. The value is $114, 900 at 8.5 % amortized for 30 years. and secured by a $140,000 house that I owned outright when I sold it. (not a wrap). borrower payments $885.00 principal and interest per month paid to me.
I recently discovered a small multifamily property that I have been entertaining and negotiating. The down payment is $96,000 which coincidentally is the amount that a major note buyer said he would pay for my note. Is it crazy to sell the note at a $19,000 loss? To me the upside is I will control a $500,000 asset instead of a $140,000 asset. And the monthly cash flow would be $1639.00 which is almost double.
I'm leaning towards selling it...please advise!
Thanks!