What would you do if you were me?
I currently have two rental properties. One is a SFH worth about 120,000.00 that rents for 1,230 a month and is in terrific shape. Loan is 3%. The second is a triplex that is worth 220,000 and has about 80,000 in equity. Loan is 3.75%.
I have healthy reserves in both properties and properly budget Cap Expenses, along with my regular expenses (vacancies, repairs, etc). I manage both units. The SFH cash flows about 150.00 and the triplex cash flows about 500 per month.
If you were me, what would your next move be? Would you sell the SFH, try to cash out one of the properties, continue to save the cash flow and use that for a new property, or leave them alone? I sometimes wonder if I should hurry up and wait or continue to leverage what I have. I am looking to see what others would do. Thanks for all replies.