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Updated over 5 years ago on . Most recent reply

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101
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28
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Freddie Williams
  • Rental Property Investor
  • Norfolk, VA
28
Votes |
101
Posts

Should I increase my portfolio before buying an apartment?

Freddie Williams
  • Rental Property Investor
  • Norfolk, VA
Posted

Just curious what everyone perspective is in regards to current situation. I have 2 properties with total equity of 100k. These properties are clearing 600 a month in positive cash flow. Should I:

1. Sell my rentals for down payment?

2. Increase my rentals for a strong personal financial statement for funding?

Just wondering what everyone thinks. I have rehab properties for rental for many years and have sold them and now.starting over. I want to be goin into the right direction this second time around.

Appreciate everyone's input and time. Thanks in advance to everyone.

Most Popular Reply

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306
Posts
183
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Chris Salerno
  • Rental Property Investor
  • Charlotte NC
183
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306
Posts
Chris Salerno
  • Rental Property Investor
  • Charlotte NC
Replied
Originally posted by @Chris Coleman:

If the properties appear to be nicely cash-flowing, and your DTI is fine, then why not keep them.

I agree with Chris, If it is cash-flowing enjoy it. if you come across a property that can produce more in monthly cashflow I would 1031 it into that deal. 

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