What are your thoughts on my next move?
I bought, sold and traded up several times since 2003. Ended up with a triplex that generates 11k per month.
It’s worth 2.4 million, the mortgage is 1.4.
Which of these options make the most sense or if you have other ideas please share.
- 1. Trade up again (1031), use the million in equity towards a bigger multifamily property.
- 2. Try to pay off the note as fast as possible and pocket the 11k?
- 3. Go down the syndication route and have an equity stake.
- 4. Buy a couple small multifamily turnkeys.
- 5. Get into a conservative NNN lease.
- 6. Wait to see where the market goes.
My goal is 20k monthly passive income.