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Buying & Selling Real Estate

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Brent Benoit
Pro Member
  • Contractor
  • Evans City, PA
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15
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Seeking Cash out advice!

Brent Benoit
Pro Member
  • Contractor
  • Evans City, PA
Posted Jul 27 2021, 08:59

So a friend of mine who is much further ahead in the investing game than I put the idea in my head to cash out of the first rental I bought in April and take that money, put it into other SFHs like HUD and make more on my investment dollar.

So the details: 

Id be selling a 4 bedroom 2 bath 2 stall detached garage. Currently rented at $1,535/mo. I owe $80,000 on the mortgage. Without an appraisal yet, we think it’s be worth $200,000. So with realtors fees and taxes I figure I’d walk away with $100,000.

What would you all recommend?

What would be a wise investment for that $100,000?

Should I just stay where I’m at?

Should I buy, outright, 2 other units, in a C class neighborhood, HUD, and get $1,000/mo from them?

Thank you all for any thoughts and insight!

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