BIG CHOICES, looking for insight. SELL OR REFINANCE
My partner and I have invested in a commercial property with 4 units.. we went all in on this property in a tax repo. (All Cash) We are at a crossroads of what to do next.
We were originally thinking of selling after doing a few repairs, and tripling our money. (We got a pretty great deal).. but we are realizing that this property has great potential for monthly income. The units are already rented.
Which brings me to my point of refinancing . Because we need the cash to buy more properties. We could refinance for the amount that we would sell the property for. The income from the units would pay off the mortgage and then some.
This is my first property and I am looking for a little insight!
Do we stay debt free and sell?
Or do we leverage ourselves and grow our business faster?