Hello bigger pockets members!
I’m seeking some advice. I purchased a condo in West LA in 2013 for $500,000 and now it’s worth about $680,000. I moved out of the condo last year to purchase a townhome, also in West LA. I converted the condo into a rental property. Rent is about $3,000/month and it cash flows about $400 per month. I’m loving being a small business owner and learning lots about real estate. I want to purchase more real estate and my next goal is a multi-family in West LA. Should I continue owning the condo or sell? If I sell I’ll get about $270,000, what should I do with the money? If I keep it, for how long? Any advice or options would be greatly appreciated. Thanks in advance.
Byron Enamorado CPA | [email protected]