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Updated over 2 years ago on . Most recent reply

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8
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Ed Brown
  • Real Estate Agent
  • Temecula, CA
3
Votes |
8
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Sell paid off triplex and reinvest out of state or larger building or?

Ed Brown
  • Real Estate Agent
  • Temecula, CA
Posted

I have an ocean view triplex in Orange County, CA. Value 3MIL and paid off; excellent location and strong rental market. Just thinking I'm not getting much income as income is about $7,000 per month before expenses (probably under market by about $1500, so income s/b $8500) . I'm thinking I would like to sell and get a larger building, where I can leverage my money and increase my income.  However I'm in my mid 60s and the property is not a problem with tenant turn over and a waiting line if there is a turn over. I don't want a headache property. Thinking of a commercial building or a strip center but those would have to be out of state, opinions? Also have a duplex and 2 SFRs 

Most Popular Reply

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6,603
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Bjorn Ahlblad
  • Investor
  • Shelton, WA
6,955
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6,603
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Bjorn Ahlblad
  • Investor
  • Shelton, WA
Replied

Great problem to have. You could work a 1031x by selling and buying; or keep it and borrow against it. I had rentals in Ca for years. The cash flow was always disappointing but the appreciation over 30 years made up for that!🤑

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